Kimberly Redmond | |

Tesla Inc (Nasdaq: TSLA) boss Elon Musk announced Sunday that his electric car company will permit vehicle purchases using bitcoin once it can confirm that 50% of the energy used to mine for cryptocurrency is derived from clean energy sources.

In a tweet, Musk said, “When there’s confirmation of reasonable (-50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing bitcoin transactions.”

Reuters | |

Electric carmaker Tesla Inc marginally beat Wall Street expectations for first-quarter revenue on Monday boosted by a jump in environmental credit sales to other automakers and liquidating some bitcoins.

Tesla posted record deliveries in the first quarter despite a global chip shortage that has slammed auto sector rivals, but its profit was not driven by auto sales.

Reuters | |

HSBC has banned customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc stock, a message seen by Reuters showed, calling it a “virtual currency product”.

The bank will not facilitate the buying or exchange of products related to or referencing the performance of virtual currencies, the message to an HSBC InvestDirect client said. Bitcoin is the largest and best-known vi...virtual currency.

Reuters | |

The cryptocurrency market capitalization hit an all-time peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors.

The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. Bitcoin was last up 1.4% at $59,045. Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range.

Kimberly Redmond | |

Fidelity Investments became the latest financial institution to file for regulatory approval to launch a bitcoin exchange-traded fund (ETF).

According to a Form S-1 filing Wednesday with the US Securities and Exchange Commission, the Wise Origin Bitcoin ETF will be sponsored by FD Funds Management LLC and the Fidelity Service Company Inc will serve as administrator.

Kimberly Redmond | |

Tesla Inc boss Elon Musk announced early Wednesday that his company’s electric cars can be purchased using bitcoin in the US.

“You can now buy a Tesla with Bitcoin,” Musk tweeted overnight.

“Tesla is using only internal & open source software & operates Bitcoin nodes directly,” he added in a follow-up tweet. “Bitcoin paid Tesla will be retained as Bitcoin, not converted to fiat currency.” 

Reuters | |

Inflows into cryptocurrency funds and products have already hit a record $4.2 billion for the first quarter, reflecting growing institutional investor interest, CoinShares data showed.

The previous high for crypto inflows was $3.9 billion in the fourth quarter of last year, driving total inflows for 2020 to $6.7 billion, the asset manager’s data shows.

Bitcoin, the world’s largest cryptocurrency...

Kimberly Redmond | |

Tesla founder and chief executive officer Elon Musk has officially taken on the title of “Technoking of Tesla,” according to a new regulatory filing with the US Securities and Exchange Commission.

In addition, the company’s chief financial officer, Zach Kirkhorn, will now be known as the “Master of Coin,” Monday’s Form 8-K filing said.

Both Musk and Kirkhorn will maintain their current respective positions as CEO and CFO, the fi...

Reuters | |

Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalization of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.

The world’s most popular cryptocurrency jumped 2.6% to an all-time high of $52,932, setting it on course for a weekly jump of over 8%. It has surged around 60% so far this month.

Jonathan Burklund | |

Interest in cryptocurrencies (“crypto”) has accelerated over the last year as evidenced by several factors, including: Bitcoin’s steep price increase; Tesla’s $1.5 billion purchase; the placement of Bitcoin’s price movement on CNBC’s main screen; and Skybridge’s announcement of a dedicated crypto fund. This article provides: (i) an overview of blockchain (the technology that enables crypto), (ii) a history and description of Bitcoin, and (iii) my opinion of Bitcoin as a storehold of value.