The largest cryptocurrency, bitcoin, surged to a record high of over $44,000 following the news that Tesla has invested $1.5 billion in the digital asset and expects to start accepting it as payment.

Bitcoin soared fifteen percent to trade at $44,141, closing in on an all-time high reached in early January 2021. Tesla founder Elon Musk said recently that while he’s a bit “late to the party,” he is now a supporter of the digital currency.

The appointed US electric car maker Tesla confirmed in its annual SEC filing that it has acquired $1.5 billion worth of bitcoin, and said it may also accept the currency as a form of payment for its products in the near future.

That would make Tesla the first major automaker to accept bitcoin as payment. The company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.

Tesla shares were up more than two percent in pre-market trading. The company warned investors of the volatility of bitcoin’s price in its SEC filing. But technically this is a confirmed breakout that should eventually take Bitcoin to $63K.

Bitcoin enthusiasts point to the digital asset as a hedge against inflation and store of value as concerns are rising that Joe Biden’s $1.9 trillion virus relief package may risk overheating the economy.

Bitcoin’s free float, a measure of how many tokens are available to trade, has dropped to 13% of supply, which is the lowest since 2014, according to Chainanalysis. This suggests that Bitcoin available to buy remains scarce despite record prices.

Analysts say another reason behind cryptocurrencies’ growth could be celebrities attracting attention to doge-coin. Over the weekend, rapper Snoop Dogg and KISS bassist Gene Simmons sent several Dogecoin tweets, pushing prices of the crypto to a record high.

RT. com / ABC Flash Point Crypto Currency News 2021.

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Babylon
Babylon
Guest
08-02-21 15:21

Next stop predicted @ $63k?

Array
Array
Guest
Reply to  baronmaya
08-02-21 20:25

I’m pissing my pants laughing at any idiot that would buy something you cant even physically hold . SCREW the Dollar SCREW CASH and Electronic , High Tech so called money is for idiots that WILL END UP BROKE AND HOMELESS

Kunta Kinte
Kunta Kinte
Guest
Reply to  Array
09-02-21 00:35

The ones that bought Bitcoin are laughing themselves all the way to the bank, or cash in their humongous profits?

Butch Gallo
Butch Gallo
Guest
Reply to  Babylon
08-02-21 20:22

HA HA HA and lose your ass and become homeless

Zombie
Zombie
Guest
Reply to  Butch Gallo
09-02-21 00:33

Do not see anything funny about that, enough homeless people already, especially in the super qualified empire of the USA?

Cali
Cali
Guest
Reply to  Butch Gallo
12-02-21 16:24

Prefering to live in your own lie, then recognizing the truth.

Butch Gallo
Butch Gallo
Guest
08-02-21 20:20

ONLY A MORONIC IDIOT WITH ALOW I.Q. would buy so called money you cant hold in your hand see in your safe or bury so deep by a BackHoe and protected . ALL THIS ELECTRONIC SO CALLED HIGH TECH MONEY CAN BE HACKED BY A KID THAT IS COMPUTER SAVVY OR A FIRST YEAR M.I.T. STUDENT . BOTH KIDS COULD DESTROY THE SO CALLED IDIOT WEALTH OF BANKS , MEGA CORPORATIONS , MULTI BILLIONAIRES AND MULTI MILLIONAIRES AND MKE THEM ALL HOMELESS . ELECTRONIC SO CALLED MONEY CAN BE STOLEN OR WIPED OUT QUICKER THAN A HEARTBEAT

Butterfly
Butterfly
Guest
Reply to  Butch Gallo
09-02-21 00:32

Bitcoin can not be hacked, its even safer as a credit card.

Kunta Kinte
Kunta Kinte
Guest
Reply to  Butch Gallo
09-02-21 01:03

If that happens its an inside job to steal the money from the ones doing their dirty jobs. In the end bartering becomes the solution. All ready many people are doing that.

Kunta Kinte
Kunta Kinte
Guest
09-02-21 00:38
Cali
Cali
Guest
12-02-21 17:26

Now, the media wants the world to believe that Elon Musk and some Hollywood puppet stars helped Bitcoin increase in value, while in fact the did just the opposite??