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WSJ. Elon Musk’s company says it may start accepting the cryptocurrency as a payment method for its products, sending the price of bitcoin soaring.
Fortune. “We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis,” Tesla said in the securities filing.
NYT. Tesla says it bought $1.5 billion of Bitcoin, sending the cryptocurrency to a record high.
WaPo. One analyst calls the automaker’s embrace of the cryptocurrency a potentially “game-changing move.”
Bloomberg. Tesla’s $1.5 billion investment in the digital currency is boosting prices, but using the volatile crypto asset could prove a challenge for consumers.

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WSJ. Elon Musk’s company says it may start accepting the cryptocurrency as a payment method for its products, sending the price of bitcoin soaring.

Tesla Inc., TSLA +1.59%, on Monday said it bought $1.5 billion in bitcoin, a purchase that comes after Chief Executive Elon Musk has promoted the cryptocurrency and other digital-currency alternatives on Twitter.
Tesla disclosed the bitcoin purchase in its latest annual report filed on Monday, saying the move aims to “diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.”
Tesla said the purchase came after a board committee approved changes to company rules on investments, adding that it can also invest cash in gold bullion and gold exchange-traded funds among other assets.

Fortune. “We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis,” Tesla said in the securities filing.

The leading electric-car maker’s embrace of Bitcoin lends increased legitimacy to electronic currencies, which have become more of a mainstream asset in recent years despite skepticism from some.
The embrace of a digital currency fits the maverick image of Tesla Chief Executive Officer Elon Musk, who upended the automotive industry with battery-powered vehicles and disrupted the equities market with the stock’s ascension to the blue chip S&P 500 index last year.

NYT. Tesla says it bought $1.5 billion of Bitcoin, sending the cryptocurrency to a record high.

The electric-car maker Tesla is known for bucking convention. That apparently extends to using its own corporate cash to buy Bitcoin.
Tesla said it held $19.4 billion in cash and equivalents as of Dec. 31.
Other companies, including the payments processor Square and the business intelligence software provider MicroStrategy, have publicly said they were investing corporate cash in Bitcoin. Tesla is perhaps the most prominent company to do so.

WaPo. One analyst calls the automaker’s embrace of the cryptocurrency a potentially “game-changing move.”

The move is a major sign of support for bitcoin and could encourage other major companies to follow suit in accepting the world’s most popular cryptocurrency. Bitcoin jumped after the Tesla announcement, hitting a new high before retreating to $43,650. It is up more than 48 percent year to date, according to Coindesk.
It also casts a new light on Tesla chief executive Elon Musk’s recent Twitter campaign surrounding Dogecoin, a low-valued, meme-based cryptocurrency that started as a joke between two engineers.
Dan Ives, managing director of equity research at Wedbush Securities, called Tesla’s embrace of bitcoin a potentially “game-changing move.”

Bloomberg. Tesla’s $1.5 billion investment in the digital currency is boosting prices, but using the volatile crypto asset could prove a challenge for consumers.

The world’s richest person and Tesla chief has long been a cryptocurrency supporter. Just last Thursday he sent Bitcoin alternative Dogecoin to the stratosphere when he tweeted an illustration of himself thrusting its canine mascot to the sky.
But Tesla’s latest announcement represents more than just another endorsement. It’s giving Bitcoin a stamp of legitimacy that its early adopters have been craving. Crypto has for long been derided as a made-up asset with no innate value, and it has perhaps most famously been used to buy pornography and drugs on the darker corners of the internet.

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[genioux fact produced, deduced or extracted from WSJ, Fortune, NYT, WaPo, Bloomberg.]

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