Billionaire Elon Musk, CEO of Tesla, the US company specializing in the manufacture of electric cars, defended his company’s recent $ 1.5 billion investment in Bitcoin, stressing that Bitcoin is slightly better than keeping cash.
Mask and digital currencies
Bitcoin recently hit record levels, reaching $ 52,533,000, as investors rushed to buy the cryptocurrency after Tesla announced that it had invested $ 1.5 billion in it.
The price of Bitcoin decreased by about 1% to $ 51,613 thousand, at 06:06 GMT Friday morning, and the market value of the digital currency decreased 0.95% to record $ 969.6 billion, but it is close to $ 1 trillion.
Bitcoin currently controls 60.41% of the digital currency market, according to CoinMarketCap, which tracks prices of 8,416 digital currencies.
Tesla also purchased $ 800 million worth of Bitcoin in January, according to Reuters, citing a Reddit user who says he works for the company.
Musk tweeted in mid-February on his Twitter account, showing his support for the holders of the digital currency Dogecoin to sell their currencies, which pushed the price up, and continued: I will pay a dollar if they cancel their accounts.
Dogecoin’s price has now increased 4.95% to $ 0.05537 while the best price it has ever recorded was $ 0.08495.