Technology

Tesla buys $1.5bn of bitcoin, cryptocurrency as form of payment?

So it finally happened, all the hints in the tweets posted by the owner of Tesla and one of the richest man in the world Elon Musk are now finally out there. Cryptocurrency has been talk of the day ever since Elon Musk put #Bitcoin in twitter account bio showing his support for the controversial cryptocurrency.

From the very beginning of cryptocurrency people are skeptical about it but when Elon Musk jump into the action cryptocurrency rose to popularity as it is being endorse by one of the biggest company in the world. Ever since the tweets started there was clear a huge change in the crypto market as in few tweets Elon musk showed dogecoin as a meme and its price rocketed up to 50%.

Image Source: coindesk

Tesla planned the deal on 8th Feb Monday and when the news break bitcoin reached the highest price recorded a whooping $43000. Moreover in the support of cryptocurrency tesla also hinted to properly accept cryptocurrency as a mode of payment for their future products.

Now the market of cryptocurrency is taking a flight to its peak as Tesla made the first step other major companies will also jump in to take the advantage as Facebook is also rumored to launch its own digital currency. The experts of digital currency are consider this as a ripple effect in the crypto market as more investors will move in to grasp the opportunity.

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