Bitcoin Peaks to New Highs Following Tesla Investment

Bitcoin has hit record highs for a second day after Elon Musk’s car company Tesla said it had bought about $1.5bn (£1.1bn) of the cryptocurrency.

Bitcoin rose above £34,820 before falling back slightly, but it remains 25% higher than five days ago.

Those who invested in the crypto before 2020 will have seen significant returns over the past few days.
Bitcoin chart

Source: BBC


Some investors took Tesla’s move as a signal that Bitcoin would become a mainstream financial asset, with many speculating that other tech giants will follow suit.

Bitcoin currently uses more energy than Argentina every year, according to analysis from the University of Cambridge.

Source: BBC