Tesla buys $1.5bn in bitcoin, pushing price to new high
by Rupert Neate and Rupert Jones from on (#5DXDX)
Elon Musk has helped to drive popularity of cryptocurrencies, including bitcoin and dogecoin
Tesla, the electric car company run by the world's richest person, Elon Musk, revealed on Monday that it had bought $1.5bn (1.1bn) in bitcoin and said it might soon accept payment in the popular but controversial cryptocurrency.
News of Tesla's investment in bitcoin sent the digital currency soaring 14% to a record high of $43,500, a 300% increase on this time last year as cryptocurrency investment has moved into the mainstream as global interest rates remain at record lows.
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