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Technology

What Elon Musk's bitcoin bet means for Tesla: 5 things to know

More companies might follow suit, but the move also raises investor concerns

(Nikkei montage/AP)

PALO ALTO, U.S. -- The U.S. electric vehicle maker Tesla has bought $1.5 billion worth of bitcoins and said it would accept it as a form of payment for its cars in the near future -- adding to the buzz around both carmaker and cryptocurrency.

The announcement pushed bitcoin to an all-time high of above $48,000 on Tuesday morning -- which means it would only takes about 0.82 units of the cryptocurrency to buy an entry-level Tesla Model 3.

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