MARKETS Bitcoin surges above $44,000 to record after Elon Musk’s Tesla buys $1.5 billion worth PUBLISHED MON, FEB 8 20218:06 AM ESTUPDATED MON, FEB 8 20214:33 PM EST https://www.cnbc.com/2021/02/08/bit...er-elon-musks-tesla-buys-1point5-billion.html Bitcoin’s price soared to an all-time high, breaking above $44,000 apiece, after Tesla revealed a big stake in the digital coin. The electric car maker also said it would start accepting payments in bitcoin for its products. Tesla’s stake in bitcoin “will have a ripple effect across corporations around the global,” Wedbush analyst Dan Ives said. WATCH NOW VIDEO03:12 Tesla purchases $1.5 billion in bitcoin — Here’s what could happen next Bitcoin’s price jumped sharply to an all-time high after Tesla revealed a big stake in the cryptocurrency and said it would start accepting payments in the digital coin for its products. The world’s largest cryptocurrency popped 14% to $44180.3, for its best day since March, according to Coin Metrics. It hit an intraday record high of $44,762.4 after Tesla’s announcement. Bitcoin just finished a banner year with its price more than quadrupling in 2020. In a filing with the Securities and Exchange Commission, Tesla announced Monday that it bought $1.5 billion worth of bitcoin for “more flexibility to further diversify and maximize returns on our cash.” It also said it may invest a future portion of its assets in digital assets and that it will accept bitcoin as payment for products “subject to applicable laws and initially on a limited basis.” The move makes Tesla the first major automaker to accept bitcoin as payment.