Tesla $1.5bn bitcoin purchase triggers new record high – as it happened
Rolling live coverage of business, economics and financial markets as US electric carmaker promises to accept payments in cryptocurrency
- Bitcoin price surges to $44,868, a new record
- World shares hit new record amid $1.9 trillion US stimulus hopes
- Oil above $60 per barrel for first time since February 2020
- Boohoo buys Sir Philip Green's brands, but 2,450 jobs at risk
3.05pm GMT
Elon Musk knows how to create a stir: the disclosure on Monday that his company, Tesla, has bought bitcoin worth $1.5bn (1.1bn) pushed the price of the cryptocurrency up to a new record high of $44,868.98.
Tesla shares gained 2.3% in early trading in Monday - raising its value by more than $18bn - more than offsetting the price of the bitcoin purchase.
Related: Tesla buys $1.5bn in bitcoin, pushing price to new high
$TSLA adds $1.5 billion #Bitcoin to its balance sheet. Buckle up, we're passing the Moon and heading to Mars!
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2.34pm GMT
The S&P 500, Dow Jones industrial average and Nasdaq have all hit new record highs on Monday, reflecting the general risk-on attitude as investors look ahead to the US stimulus bill.
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