Tesla has acquired around $1.5 billion in Bitcoin under an investment policy at the electric car maker headed by Elon Musk, and it plans to begin accepting the digital currency as payment for vehicles soon.
The California company revealed the new strategy in a filing with the U.S. Securities and Exchange Commission early Monday, saying its investment in digital currency and other “alternative reserve assets” may grow.
Bitcoin spiked 14% and appeared to briefly hit a new all-time high. Shares of Tesla moved higher as well.
In its fourth quarter earnings report last month Tesla said it had cash and cash equivalents of $19.4 billion.
A labor rights group has alleged that Starbucks sourced coffee from a major Brazilian cooperative whose member farms were cited for keeping workers in slave-like conditions.
X, the social media platform owned by Trump adviser Elon Musk, is challenging the constitutionality of a Minnesota ban on using deepfakes to influence elections and harm candidates.
Seth Goldstein, Equity Strategist at Morningstar, breaks down Tesla's earnings report, talks Musk's future with the company and how stocks have responded.
Senior Health Correspondent for TIME, Alice Park, gives us a deeper look into how Eli Lilly's new pill orforglipron may change the healthcare industry.
