After Elon Musk talked about the rise of Bitcoin on his interview on Clubhouse -an exclusive by invite app only, Bitcoin on Tuesday set a new high and hit $47,000. Musk talked about how he could see cryptocurrency as the new currency accepted all over the world and also said that in future his electric car making company, Tesla may accepts payment in cryptocurrency.
Musk talked about how Tesla has started to hold some of its cash in form of bitcoins instead of holding cash for book keeping in traditional ways.
Tesla released a official statement saying that it has invested over $1.5 billion in Bitcoins as it comes as part of investing a portion cash in reserve assets which includes digital assets.
According to Michael Novogratz, bitcoin could hit the mark $100,000 by the year end of 2021.