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


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.
"We expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt," the filing said.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Bitcoin's price climbed to a new high on Monday after the announcement from Tesla. In its fourth quarter earnings report, the company said it had $19.4 billion in cash and cash equivalents, according to The Associated Press.
The news, CNBC wrote, "raised immediate questions around CEO Elon Musk's behavior on Twitter recent weeks" after he expressed support for bitcoin and dogecoin, which both saw their prices increase. Musk last month added "#bitcoin" to his bio on Twitter and during a recent Clubhouse chat said he is "a supporter of bitcoin," also predicting it's "on the verge of getting broad acceptance by conventional finance people."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
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.
-
Cartier at the V&A: a 'dazzling' show
The Week Recommends A 'once-in-a-lifetime' display of the French jeweller's 'exquisite' objects
By Irenie Forshaw, The Week UK
-
Blue Origin all-female flight: one giant leap back for womankind?
Talking Point 'Morally vacuous' celeb space crew embody defeat for feminism
By Richard Windsor, The Week UK
-
Rockliffe Hall's soothing sleep retreat
The Week Recommends From guided meditation to a calming massage, this spa break will have you nodding off in no time
By Irenie Forshaw, The Week UK
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
By Peter Weber, The Week US
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US