Musk's electric vehicle company Tesla Inc revealed on Feb. 8 it had bought $1.5 billion of the cryptocurrency bitcoin and would soon accept it as a form of payment for cars
The statement was part of a broader document outlining the highlights of India's budget to its people in the local language of Kannada
Last month the company incorporated Tesla Motors India and Energy Private Limited with its registered office in Bengaluru
Tesla must recall around 12,300 Model X cars worldwide due to car body mouldings problems, Germany's motor vehicle authority (KBA) said
According to a filing with the US Securities And Exchange Commission, the 48-year-old sold 30,000 shares on February 9, reports marketwatch.com
Shareholders voiced concern that the investment by Tesla, which recently joined the benchmark S&P 500 stock index, could fuel more gyrations in the company's shares
The transaction reduced his holding to 599,740 Tesla shares, which amounts to $483 million. Tesla insiders hold a 19.6% stake in the company
The landmark inclusion of the cryptocurrency in Tesla's investment portfolio could complicate the company's zero-emissions ethos
Banning cryptocurrencies is a poor idea
Tesla's $1.5 billion Bitcoin investment unveiled on Monday may not surprise CEO Elon Musk's followers on Twitter, where he has shown himself as a major proponent of the soaring cryptocurrency
Bitcoin has been on fire ever since Musk announced that Tesla had bought $1.5 billion of the cryptocurrency, and that his electric-vehicle company would accept bitcoin from buyers
Bitcoin powers to new high as Elon Musk's Tesla takes it mainstream
If Tesla were to accept bitcoin payments the way some other major companies have, customers would transfer bitcoins from their "digital wallets" to another entity that converts them into, say, dollars
The price of Bitcoin soared 15.4 per cent to around $44,500 Monday in reaction to Tesla''s announcement, according to CoinBase
The electric-vehicle company's move marked the latest step toward mainstream acceptance of bitcoin
Bitcoin has set new record highs in recent months after a rollercoaster ride over the past decade
Tesla is building Model 3 electric sedans and Model Y sport-utility vehicles at its Shanghai factory
Investors had hoped for a significant increase over the company's 2020 delivery goal of half a million vehicles, but Tesla provided only a vague outlook and did not state a concrete delivery goal.
The carmaker has sued one of its former employees for allegedly stealing company information
Musk has countered recent remarks by the head of Waymo that Tesla has taken a misguided approach to develop fully autonomous cars