The price of the cryptocurrency Bitcoin has surged at 12:40pm to £31634.59 as Elon Musk's Tesla reveals that it purchased $1.5Billion worth of the currency.
Tesla has just announced the is has bought $1.5Billion worth of Bitcoin and that it will now accept Bitcoin as a recognised method of payment.
Tesla's epic purchase has boosted the value of Bitcoin 17% to whopping £32,197.71, it's highest ever value!
The news is impacting share prices across the world as an initial share price spike was witnessed by Bull and Bear Invest Channel on Argo Blockchain. The spike took the share price from £0.987 up nearly 15.145% in minutes to £1.138. The share price spiked a second time moments later, increasing another 10% to £1.169!
Argo Blockchain's share price continues to climb as value of Bitcoin increases. Many traders are reporting difficulty buying in to various companies due to the sudden demand. Exciting times! Those who have managed to purchase shares, hold tight and watch your money grow!
With the US Market yet to open, could we be seeing a new record in cryptocurrency mining companies?
Elon Musk has repeatedly Tweeted about the cryptocurrency Dogecoin, another recognised cryptocurrency, in recent days. The reaction of the cryptocurrency market was evident as Dogecoin's value increased at an unbelievable rate.
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