Tesla will soon offer another way to pay for its electric cars: . The electric carmaker said in a Securities and Exchange Commission filing for the fiscal year ending Dec. 31 that it made a $1.5 billion investment in the cryptocurrency.
News on Tesla’s investment pushed Bitcoin’s value up nearly 13% as of this writing on Monday morning. While the automaker didn’t lay out explicit timelines for when you’ll be able to snap up a Tesla with the cryptocurrency, the policy will extend to other products from the company as well. The closest we get to a timeframe is sometime in the near future.
Tesla’s move to “hold digital assets from time to time or long-term” to maximize cash returns comes while CEO Elon Musk is all-in on Reddit’s recent move to target another coin: Dogecoin. The currency , but last week, . With just one word, “Doge,” the currency rocketed upward by more than 50%. Just to be clear, Tesla made no mention of accepting Dogecoin in the SEC filing.