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.