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Tesla supercharges bitcoin, Brent barrels above $60

Tesla supercharges bitcoin, Brent barrels above $60

Business
Bitcoin hit a record high near $45,000 Monday after Elon Musk’s electric carmaker Tesla invested $1.5 billion in the digital currency. Meanwhile, the benchmark oil contract Brent North Sea rose above $60 per barrel to hit the highest level since the coronavirus pandemic began to spread globally almost a year ago. Shortly after news broke of Tesla’s investment bitcoin hit $44,795.20 before pulling back slightly.x The cryptocurrency is up by around 50 percent since the start of the year. “This is probably one of the biggest developments for the cryptocurrency industry,” noted Fawad Razaqzada, analyst at ThinkMarkets. “Tesla is going to be a major player in the auto industry and if it starts accepting bitcoin as a form of payment, it will give the digital currency furt...