Bitcoin jumped to a new all-time high on Monday after Tesla said that it had bought $1.5bn worth of the cryptocurrency in January.
In a regulatory filing, the carmaker said it changed its investment policy last month to allow it more flexibility to “diversify and maximise” returns on its cash, after which it made its chunky investment in the digital currency.
“We invested an aggregate $1.5bn in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term,” the filing said.
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