Elon Musk’s Tesla Buys $15Billion in Bitcoin and Everyone is Talking About It

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ADELAIDE, AUSTRALIA – SEPTEMBER 29: SpaceX CEO Elon Musk speaks at the International Astronautical Congress on September 29, 2017 in Adelaide, Australia. Musk detailed the long-term technical challenges that need to be solved in order to support the creation of a permanent, self-sustaining human presence on Mars. (Photo by Mark Brake/Getty Images)

American electric vehicle company, Tesla, Inc has become the first automaker to acquire bitcoins worth $1.5billion for “more flexibility to further diversify and maximize returns on our cash.”

Tesla revealed in a filing with the Securities and Exchange Commission that a planned share of its assets may be invested in digital assets and that payments for its products will be made in bitcoin on a limited basis and “subject to applicable laws”.  This move will give Tesla liquidity in the cryptocurrency once it starts accepting it for payments.

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The move by Tesla, coupled with earlier moves like Tesla CEO Elon Musk adding “#bitcoin” to his Twitter bio and sharing tweets that have led more people to purchase bitcoins, has caused the prices of bitcoin to skyrocket to at least $44,200 and making

As the world marvels at Tesla’s big move, Nigerians wonder what the next move for the country will be, as the Central Bank of Nigeria recently placed a ban on the exchange of cryptocurrencies in Nigeria.

 

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