Tesla’s $1.5 billion purchase of the cryptocurrency Bitcoin could be subjected to an investigation, according to Doug Davidson, a former Branch Chief of the Securities and Exchange Commission’s Divison of Enforcement. The SEC could look into the exact date of Tesla’s BTC purchase, as well as if CEO Elon Musk’s tweets gave its investment an appreciation in value.
Earlier this week, Tesla shocked many by announcing a $1.5 billion Bitcoin investment in a 10-K filing with the SEC. Along with the announcement, Tesla said it plans to begin accepting Bitcoin for purchases of its electric cars and other products.
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