Bitcoin hits record levels as Tesla invests $1.5bn

At least 10% of S&P 500 companies will be invested in Bitcoin by the end of 2022.

Bitcoin surged to an all-time high after electric carmaker Tesla said it’s invested $1.5bn (€1.25bn), becoming the biggest company yet to back the controversial cryptocurrency.

Bitcoin jumped as much as 15% after Tesla made the disclosure in a regulatory filing, with prices exceeding $44,000 (€36,555) for the first time. Tesla also said it would begin accepting the digital token as a form of payment for its electric cars.