Tesla announces $1.5 billion investment into bitcoin; will soon accept the currency as payment

PALO ALTO, Calif. (NewsNation Now) — Tesla announced they will soon start accepting bitcoins as a valid payment method.

The announcement also came with news from Tesla that they have invested $1.5 billion in the digital currency.

The new strategy was revealed in a filing with the US Securities and Exchange Commission.

Tesla CEO Elon Musk also said in the filing he expected their investment in digital currencies to grow.

Bitcoin’s value shot up 15% to an all time high, $43,000, at the news.

Musk has been a vocal proponent of bitcoin and briefly added the hashtag #bitcoin to his Twitter bio two weeks ago.