As Tesla has announced the acquisition of $1.5 billion worth of Bitcoin, the flagship cryptocurrency skyrocketed to a new all-time high of $44,800.
It pulled back right away, dropping to around $1,000 almost immediately, trading at $43,662 at the moment.
Tesla embraces Bitcoin, the crypto community celebrates
Less than an hour before that, the word was spread that e-car manufacturing Tesla behemoth had purchased a mammoth $1.5 billion worth of Bitcoin to add it to its balance sheet.
The company has also announced that, in the near future, it intends to start accepting cryptocurrencies as a means of exchange for its products.
Earlier in February, Elon Musk admitted to turning into a Bitcoin supporter and stated that the major cryptocurrency is in for mainstream adoption by corporations.
He even tagged Bitcoin in his Twitter bio but then removed it and recently returned to shilling his favorite DOGE on his Twitter page.