Shkoi Kurdistan-
Bitcoin hit a fresh record above $48,000 on Tuesday after Tesla Inc.’s announcement of a $1.5 billion investment in the largest cryptocurrency, according to Bloomberg.
The token rose as much as 7.9% to almost $48,216 before paring some of the gains. It was at about $48,000 as of 3:16 p.m. in Hong Kong. Tesla’s disclosure Monday sent the price soaring.
The company also said it would begin accepting the digital token as a form of payment for its electric cars. The developments amounted to the biggest endorsement of the controversial cryptocurrency by a mainstream firm. Elon Musk, Tesla’s chief executive officer and the world’s richest man, has for weeks been commenting about digital coins, buffeting their prices.
“One by one, corporations will add Bitcoin to their balance sheets and it couldn’t get bigger than Tesla,” said Vijay Ayyar, head of Asia Pacific with cryptocurrency exchange Luno in Singapore. “Imagine if 100 companies start putting even 1% into Bitcoin, what that is going to do to demand and supply.”
