Leading cryptocurrency Bitcoin BTC hit all-time highs in 2021, a year that saw many exciting events for the cryptocurrency.
One of the big stories in 2021 was large companies adding Bitcoin to their balance sheets.
Here’s a look back at when Tesla Inc TSLA bought Bitcoin and how much investors could have made following the electric vehicle giant’s lead.
What Happened: On Feb. 8, 2021, Tesla disclosed it had purchased $1.5 billion worth of Bitcoin, a move that was made in the first quarter in the month of January.
The announcement that Tesla had bought Bitcoin led to an immediate lift in the price of Bitcoin and to experts who saw it as a key catalyst and support for the future of cryptocurrency.
Ark Invest CEO Cathie Wood had previously said companies that added Bitcoin to their balance sheets were one of the reasons for her huge price target for Bitcoin in the future.
Tesla’s purchase of Bitcoin came after companies like MicroStrategy…
