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A cutting-edge car company will be accepting what some consider state-of-the-art currency.

Tesla has purchased $1.5 billion of bitcoin, the company announced in a filing with the Securities and Exchange Commission.

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The company said it bought the cybercurrency for “more flexibility to further diversify and maximize returns on our cash,” CNBC reported.

It will also “acquire and hold digital assets from time to time or long-term,” Reuters reported.

Tesla will also start accepting bitcoin as payment for its products as it becomes the first major automaker to do so.

Elon Musk had asked in December about transferring “large transactions” of Tesla’s finances into digital currency, Reuters reported late last year.

The value of bitcoin soared to $43,000 after the announcement, Bloomberg reported.