Bitcoin jumps 10% to record high on Tesla investment news

614
London

Bitcoin jumped more than 10% on Monday to a record high after Tesla said it had invested $1.5 billion in the most popular cryptocurrency last month.

The news sent Bitcoin soaring as high as $43,625 as of 1300 GMT. Smaller cryptocurrencies including ethereum and XRP that tend to move in tandem with bitcoin also jumped, rising as much as 5% and 4% respectively.

The electric carmaker unveiled the investment ten days after its chief executive Elon Musk drove up the cryptocurrency’s price by adding a “#bitcoin” tag on his Twitter profile page.
Musk removed the tag from his Twitter bio a few days later but has continued talking up bitcoin and other cryptocurrencies, in particular, dogecoin, to his 46 million Twitter followers.— Reuters

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