New Delhi | Jagran Business Desk: Bitcoin jumped more than 10% to a record high on Monday after Tesla Inc invested USD 1.5 billion in bitcoin last month. Also, the company is expected to begin accepting payment for its cars and other products with it in near future, prompting a 7 per cent jump in the electronic currency.

As per Reuters, Tesla said in a filing with the U.S. Securities and Exchange Commission (SEC) that the decision was part of its broad investment policy that was updated in January 2021. With this, the company aims at diversifying and maximizing its returns on cash and could "acquire digital assets from time to time or long-term".

The news sent Bitcoin soaring as high as USD 43,625 (approx 31 lakhs) as of 1300 GMT. The electric carmaker unveiled the investment ten days after its chief executive Elon Musk added "#bitcoin" on his Twitter bio, which drove bitcoin higher on the day.

Meanwhile, Elon Musk has set up its company Tesla in Bengaluru under the name of Tesla India Motors and Energy Private Limited. They have registerd with RoC Bangalore with an authorised share capital of Rs 15 lakh and paid-up capital of Rs 1 lakh.

Earlier in October 2020, Elon Musk had drop this merry news for all the Indians through tweet that the company would enter into the Indian car market “next year for sure”. His tweet was in response to a query by a Twitter handle called Tesla Club India.

Later in December, Road Transport and MSME Minister Nitin Gadkari had told The Indian Express that The first model of Tesla will come to India with an affordable Model 3 which is likely to be priced between Rs 55-60 lakh range.

As per The Times of India, Tesla India has listed three people namely Vaibhav Taneja, Venkatrangam Sreeram, and David John Feinstein as directors while Taneja is said to be the chief accounting officer with the parent company.

Posted By: Niharika Sanjeeiv