Tesla bets big on Bitcoin, plans to accept cryptocurrency | Auto Finance News Tesla bets big on Bitcoin, plans to accept cryptocurrency | Auto Finance News
Auto Finance News
Subscribe
  • Home
  • News
    • All News
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Compliance & Regs
    • Risk Management
    • Capital & Funding
    • Powersports
  • Events
    • DEMOvation Challenge
    • Auto Finance Summit
    • Auto Finance Innovation Summit
  • EXCELLENCE
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest
    • Magazine Issues
  • Podcast
  • Data
    • Lender Ranking
    • Fixed Rate Outstandings at Banks
    • Securitizations
    • Market Share Monitor
AFN PLUS
Friday, February 26, 2021
Log In
No Result
View All Result
Auto Finance News
  • Home
  • News
    • All News
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Compliance & Regs
    • Risk Management
    • Capital & Funding
    • Powersports
  • Events
    • DEMOvation Challenge
    • Auto Finance Summit
    • Auto Finance Innovation Summit
  • EXCELLENCE
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest
    • Magazine Issues
  • Podcast
  • Data
    • Lender Ranking
    • Fixed Rate Outstandings at Banks
    • Securitizations
    • Market Share Monitor
AFN PLUS
Log In
No Result
View All Result
Auto Finance News
No Result
View All Result

Tesla bets big on Bitcoin, plans to accept cryptocurrency

Bloomberg News by Bloomberg News
February 8, 2021
in Innovation & Technology
Reading Time: 1min read

Tesla Inc. invested $1.5 billion in Bitcoin and signaled its intent to begin accepting the cryptocurrency as a form of payment, sending prices to a new record after the vote of confidence from the electric-car market leader.

The Palo Alto, California-based manufacturer said in a filing Monday it made the bet on Bitcoin after updating its investment policy last month to allow the company to invest in digital assets as well as gold bullion and gold exchange-traded funds.

“We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis,” Tesla said in the securities filing.

Bloomberg News

The leading electric-car maker’s embrace of Bitcoin lends increased legitimacy to electronic currencies, which have become more of a mainstream asset in recent years despite skepticism from some. The embrace of a digital currency fits the maverick image of Tesla Chief Executive Officer Elon Musk, who upended the automotive industry with battery-powered vehicles and disrupted the equities market with the stock’s ascension to the blue chip S&P 500 index last year.

Bitcoin rose as much as 16% to an all-time high of $44,795.20 on the news. It was up about 12% at $43,218.69 at 8:59 a.m. in New York.

Musk has often tweeted about cryptocurrency-related topics and earlier this month called Bitcoin “a good thing” in an interview. Dogecoin, the once tongue-in-cheek cryptocurrency, hit a record on Monday after Musk, rapper Snoop Dogg and Kiss bassist Gene Simmons all tweeted about it.

-By Chester Dawson

Tags: bitcoinbloomberg newscryptocurrencyTesla
Previous Post

Apple car talks aren’t happening, say automakers Hyundai, Kia

Next Post

Harley, Truist eye new initiatives as loan performance wavers [Video]

Related Posts

Digital lending lags despite consumer expectations
Innovation & Technology

Digital lending lags despite consumer expectations

February 22, 2021
New Webinar Offers Tips for How Lenders Should Adapt to Digital Disruption
Innovation & Technology

Auto Finance Innovation Summit pre-conference survey now open

February 22, 2021
Axos Bank inks direct-lending partnership with Carvana
Innovation & Technology

Axos Bank inks direct-lending partnership with Carvana

February 18, 2021
Next Post
Tesla overtakes Toyota as the world’s most valuable automaker

Harley, Truist eye new initiatives as loan performance wavers [Video]

By subscribing you agree to our Terms of Use and Privacy Policy

Latest Magazine Issue

INNOVATION & TECHNOLOGY

Digital lending lags despite consumer expectations

Digital lending lags despite consumer expectations

February 22, 2021
New Webinar Offers Tips for How Lenders Should Adapt to Digital Disruption

Auto Finance Innovation Summit pre-conference survey now open

February 22, 2021

CORONAVIRUS

CPS sees decline in Q4 originations amid low-interest competition

CPS sees decline in Q4 originations amid low-interest competition

February 24, 2021
Subprime sinks in Q3, auto originations move closer to pre-pandemic levels

Subprime sinks in Q3, auto originations move closer to pre-pandemic levels

February 19, 2021

SPONSORED

Collateral Protection Insurance (CPI): What is CPI and what does it do?

Collateral Protection Insurance (CPI): What is CPI and what does it do?

January 8, 2021
US auto sales poised for crash after slowest pace in a decade

Driving Customer Loyalty, Retention After Total Loss

December 9, 2020
When tough times hit, proactive strategies pay

When tough times hit, proactive strategies pay

November 2, 2020

About

ABOUT US

PRIVACY TERMS

ADA COMPLIANCE

CODE OF JOURNALISM ETHICS

Contact Us

ADVERTISE

HELP CENTER

EMAIL SIGN UP 

Follow Us

twitter twitter linkedin podcast

©2021 Royal Media & Auto Finance News

No Result
View All Result
  • Home
  • News
    • All News
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Compliance & Regs
    • Risk Management
    • Capital & Funding
    • Powersports
  • Events
    • DEMOvation Challenge
    • Auto Finance Summit
    • Auto Finance Innovation Summit
  • Excellence
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest
    • Magazine Issues
  • Podcast
  • Data
    • Lender Ranking
    • Fixed Rate Outstandings
    • Securitizations
    • Market Share Monitor
  • +PLUS
  • SUBSCRIBE
  • Log In / Account

© 2020 Royal Media

Go to mobile version