Musk, who has been promoting cryptocurrencies through his Twitter account, had last month criticized conventional cash, saying when it "has negative real interest, only a fool wouldn't look elsewhere."
He had said that the difference with cash made it "adventurous enough" for the S&P 500 company to hold the cryptocurrency.
Following Tesla's investment in bitcoin, several companies, including Uber Technologies Inc and Twitter Inc had shared their views on the cryptocurrency. https://reut.rs/3cg9gMP
Uber Chief Executive Dara Khosrowshahi said the ride-hailing company discussed and "quickly dismissed" the idea of investing in bitcoin. However, he added that Uber could potentially accept the cryptocurrency as payment.
Twitter had said earlier it was still undecided in holding bitcoin, while General Motors Co said it will evaluate whether bitcoin can be accepted as payment for its vehicles.
Tesla recently added "Technoking of Tesla" to Musk's list of official titles.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.