Bitcoin surged past $43,000 after news that Tesla has invested $1.5 billion in the digital currency. According to the Securities and Exchange Commission press release, Tesla is planning to start accepting the cryptocurrency as payment. 

  • Tesla’s investment comes when investors see Bitcoin as an inflation hedge and store of value amidst rampant central-bank money printing and economic stimulus.
  • Bitcoin is also benefiting from free publicity by celebrities and influencers such as Elon Musk through tweets and memes. 

Bitcoin is currently gaining. BTCUSD is up 13.56%