Tesla bought around $1.5 billion (£1.1 billion) of the cryptocurrency Bitcoin in January.
Bitcoin
Elon Musk's car company has confirmed the acquisition and revealed that, one day, the firm expects to accept it as a form of payment.
In a stock market statement, Tesla said: "We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis."
The announcement prompted a dramatic spike in the price of the cryptocurrency.
Indeed, at one point, the price rose by as much as 17 percent, to reach $44,220.
Eric Turner, vice-president of market intelligence at cryptocurrency research firm Messari, thinks the news could be a major turning point for Bitcoin.
He said: "I think we will see an acceleration of companies looking to allocate to Bitcoin now that Tesla has made the first move.
"One of the largest companies in the world now owns Bitcoin and by extension, every investor that owns Tesla, or even just an S&P 500 fund, has exposure to it as well."
Earlier this year, Elon Musk described Bitcoin as being on "the verge of getting a broad acceptance" by the finance sector.
The cryptocurrency has always been looked at suspiciously by some people within the industry, but the billionaire businessman claimed that attitudes are now starting to change.
He explained: "I should have at least bought some Bitcoin eight years ago.
"Talk about being late to the party.
"I was a little slow on the uptake there … but I do at this point think Bitcoin is a good thing - I am a supporter of Bitcoin."