Bitcoin hit a high of $ 43,000 on Monday after electric car maker Tesla invested $ 1.5 billion in digital money. Encryption money, however, has risen about 50 percent since the beginning of the year.
At around 1300 GMT, Bitcoin was at $ 43,725.51 and was at $ 42,352 before cooling slightly.
Tesla’s decision came just days after CEO Elon Musk changed his Twitter biology to read “#bitcoin”. The announcement was made in a document by the U.S. Securities and Exchange Commission.
Tesla said in a letter that the decision was part of its broader investment policy as a company, which aims to diversify and maximize cash returns.
Under the changed policy, a total of $ 1.5 billion has been invested in Bitcoin, which says it can “seize and retain digital assets from time to time or in the long run.”
Tesla is now expected to begin accepting payments for its cars and other products with Bitcoin in the near future.
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