The largest cryptocurrency bitcoin in Monday's session scaled to a high of at least $43200 after automobile company bought $1.5 billion worth of bitcoin, as per a filing with the Securities and Exchanges Commission (SEC).
Further as per a CNBC report, the automaker said it would also begin to accept bitcoin as a payment method against the purchase of its products. This shall be done with the objective of providing more flexibility in order to enable further diversification and generate higher returns on cash. The move would make Tesla the first auto manufacturing company to accept bitcoin as a payment method. At the same time, the company also warned customers about volatility in bitcoin.
In the pre-market trading, scrip of Tesla also rose by more than 2 percent.