Bitcoin reaches all-time high after Tesla discloses $1.5 billion purchase

Elon Musk
(Image credit: BRITTA PEDERSEN/POOL/AFP via Getty Images)

Tesla has invested $1.5 billion in bitcoin and revealed plans to accept the cryptocurrency as payment in "the near future."

The company disclosed in a Securities and Exchange Commission filing on Monday that it purchased $1.5 billion of bitcoin, noting that it may invest "in certain alternative reserve assets" as part of its updated policies, CNBC and Reuters report.

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Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.