Elon Musk’s Tesla is up $1 billion on its $1.5 billion bitcoin investment as the cryptocurrency soars

Elon Musk’s Tesla is up $1 billion on its $1.5 billion bitcoin investment as the cryptocurrency soars

Elon Musk's vow that Tesla will hold onto its billion-dollar-plus investment in bitcoin is paying off as ETF excitement drives the coin's price to highs not seen since April. The electric-car maker now holds 42,902 bitcoin, according to . It added $1.5 billion worth of the cryptocurrency to its balance sheet . That investment is valued at $2.5 billion on Friday, after bitcoin climbed more than 3%, according to Coinbase data. The price of the token touched $60,000 but has since slipped back to $59,310 - still its highest level in five months. This is not the first time Tesla's holding has added $1 billion in worth. Its fair value was almost $2.5 billion in March, the company said in an . Overall, the value of Tesla's crypto investment has tracked the price moves for bitcoin since February. The token has gained 23% over the past month on hopes the SEC will give the go-ahead for crypto exchange-traded funds. A report Friday that regulators are ready to allow bitcoin futures ETFs to trade next week has boosted the price. Tesla has , and that was only to find out whether it was as liquid as cash on a balance sheet,