Tesla buys $1.5 billion in bitcoin, sending its price soaring

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The price of bitcoin rose to a new record above $43,000 on Monday after Tesla reported that it had purchased $1.5 billion of the world's most valuable cryptocurrency. In a regulatory filing, Tesla also announced that it expected to "begin accepting bitcoin as a form of payment for our products in the near future."

Tesla said that this would be "initially on a limited basis, which we may or may not liquidate upon receipt."

Bitcoin is in the midst of its fourth major bull market, having risen 10-fold over the last two years. A growing number of mainstream organizations have chosen to add bitcoin to their investment portfolios, pushing up the currency's value.

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