“I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin.”

Bitcoin has continued to rise thanks to Tesla’s announcement, racing a value of $44,200. Tesla shares also went up by 2.5% in premarket trading. However, Tesla has warned investors that Bitcoin is still incredibly volatile as an investment.

This move into the investment of Bitcoin from Tesla is a large one, with it being a large portion of its cash and cash equivalents, with the end of 2020 seeing Tesla with$19 billion in cash and equivalents.