Tesla invests in bitcoin; 7.7% of the total gross liquidity of the company

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Tesla invests in bitcoin; 7.7% of the total gross liquidity of the company

Tesla invests in bitcoin; 7.7% of the total gross liquidity of the company :

Tesla has invested nearly 8% of its gross liquidity in the digital currency, buying $ 1.5 billion in bitcoin, according to a new study.

The financial markets were in shock after the US Securities and Exchange Commission (SEC) announced the filing of a case in which Tesla, the largest maker of electric vehicles, added Bitcoin to its balance sheet, according to the Quinn Telegraph.

The file, filed by Tesla at the end of the fiscal year on December 31, 2020, shows that the company has allocated $ 1.5 billion of its assets to Bitcoin. According to research by David Lawant, a researcher at Bitwise, Tesla’s investment in Bitcoin accounted for 7.7% of the company’s gross liquidity.

The researcher obtained these figures by examining Tesla’s cash reserves. According to this, Tesla’s gross liquidity by the end of 2020 was about $ 19.4 billion. $ 9.8 billion was owed by the company.

Tesla’s acquisition of bitcoin placed the company near the top of the companies’ bitcoin assets list. Microstrategy ‌ Another American company has bought more bitcoins as its strategic reserves.

Yesterday’s news of the big investment of this car giant caused a sharp jump in prices. The price of each Bitcoin unit reached a new historical record, reaching $ 47,000. The total value of the Bitcoin market is now, for the first time, more than $ 800 billion.

Tesla invests in bitcoin; 7.7% of the total gross liquidity of the company

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In addition to investing in Bitcoin, Tesla plans to adopt this digital currency as a payment method.

The company could take the lead in accepting bitcoin with its recent move at this critical time when the market is bullish. Given Elon Musk desire to target markets, Tesla’s investment in Bitcoin could accelerate the acceptance of the digital currency in a short period of time.

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