Representational photo: Tesla Model 3.

Photo: Somag News

Bitcoin's Value Surges Over $47,000 After Tesla Buys $1.5 Billion Units

Bitcoin's value surged nearly 20% to over $47,000 soon after Tesla CEO Elon Musk tweeted about buying $1.5 billion of the cryptocurrency for future transactions. Besides, heavy trading in cryptocurrencies after Musk's tweet caused technical issues in exchanges like Coinbase and Gemini. Known to be a cryptocurrency supporter, Musk's Tesla has stated that it invested 8% of its reserves into bitcoin. As per experts, companies like Apple may follow the similar path in coming days. 

Tue, 09 Feb 2021 - 01:42 PM / by Harsh Vardhan

Tags
Cryptocurrency
Bitcoin
Tesla
Elon Musk
Courtesy
The Indian Express

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