By Temi Joshua
Bitcoin price rocketed to an all-time high of $43,730 per bitcoin on the Luxembourg-based Bitstamp exchange, after the electric car maker, Tesla, revealed it bought $1.5 billion worth of bitcoins.
This is coming few days after Nigeria banned cryptocurrency transactions.
The company said in a filing with the United States’ Securities and Exchange Commission, on Monday that it bought bitcoin for “more flexibility to further diversify and maximize returns on our cash.”
The company, owned by the world’s richest man, Elon Musk, said a filing with the United States’ Securities and Exchange Commission, on Monday that it bought bitcoin for “more flexibility to further diversify and maximize returns on our cash.”
Elon Musk furthered revealed that it will start accepting payments in bitcoin for its products.
Nigeria ban crypto currency
On February 5, 2021, the Central Bank of Nigeria, banned all form of crypto currency related transaction in Nigeria.
This order was contained in a statement signed by Musa Jimoh, director of the payment system management department and Bello Hassan, the director for banking supervision.
The statement reads in parts below…
“Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited.
Accordingly, all DMBs, NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.”
