Tesla's US$1.5 billion Bitcoin investment unveiled on Monday may not surprise CEO Elon Musk's followers on Twitter, where he has shown himself as a major proponent of the soaring cryptocurrency.
The announcement of Tesla's investment, buried in Tesla's 2020 annual report, follows months of tweets by Musk related to cryptocurrencies including Bitcoin, sometimes helping fuel its rally.Musk's Bitcoin tweets https://fingfx.thomsonreuters.com/gfx/mkt/qmypmwmwgpr/Pastedper cent20imageper cent201612815114791.png
Saylor is a Bitcoin bull and his software company has bought around 71,000 bitcoins, currently worth close to US$3 billion. MicroStrategy's stock jumped 18per cent on Monday, bringing its gain in 2021 to 146per cent as traders view it as a play on Bitcoin.Replying in May to a tweet by author J.K. Rowling about Bitcoin, Musk wrote that massive debt taken on by central banks made Bitcoin more attractive.