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Tesla invests $ 1.5 billion in bitcoin, will pay off crypto currency

Posted on February 9, 2021February 8, 2021 by Nidhi Malviya

Crypto currency is a currency that is issued privately as a digital medium. It works on the basis of Distributor Laser Technology (DLT) like cryptography and blockchain.

Electronic car maker Tesla Inc said on Monday that it has invested $ 1.5 billion in Bitcoin and that in the future it may allow crypto currencies to be paid to shoppers of their products and cars. After this news, the price of crypto currency bitcoin reached the highest level.

This disclosure was made by Tesla in an annual report on investment in bitcoin. It says that the Members of Board Audit Committee has updated Tesla’s investment policy.

Founder Elon Musk said that he was interested in Bitcoin. Last month, he changed the Twitter biography to #bitcoin, after which it saw a surge in prices.

Crypto currency is a currency that is issued privately as a digital medium. It works on the basis of Distributor Laser Technology (DLT) like cryptography and blockchain.

If told in easy language, blockchain is a book account in which transactions are registered as blocks. They are linked using cryptography. Cryptography is such a secure way of saving and sending information, in which the code is used and only that person can read the information for which it is sent.

Nidhi Malviya

Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.

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