Tesla buys $1.5B in Bitcoin, will accept as payment soon

Tesla says it has invested more than $1 billion in Bitcoin

SILVER SPRING, Md. (AP) — Tesla says it has invested more than $1 billion in Bitcoin and will accept the digital currency as payment for its electric vehicles.

In a regulatory filing Monday, Elon Musk’s electric vehicle company said its board approved of the $1.5 billion investment and potentially more in the future.

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It said it expected to begin accepting Bitcoin as payment for its high-end cars “in the near future, subject to applicable laws and initially on a limited basis.”

The digital currency jumped more than 15% on the news, to more than $43,000 for one Bitcoin.

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