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Tesla’s $1.5bn crypto bet triggers companies to explore bitcoin

Banks are now exploring how to fulfil crypto orders for their clients, as businesses seek to cash in on the hype

Tesla announced earlier this month that it had bought $1.5bn worth of bitcoin in a bid to “maximise returns”
Tesla announced earlier this month that it had bought $1.5bn worth of bitcoin in a bid to “maximise returns” Photo: Getty Images

Companies are starting to express interest in bitcoin as a long-term investment, following in the footsteps of listed giants such as Tesla, which is already seeing its crypto bet pay off.

The electric carmaker disclosed earlier in February that it had bought $1.5bn worth of bitcoin to diversify its wider portfolio and “maximise returns”.

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