Elon Musk says we can now buy Tesla with Bitcoin

  • AUTHOR: midhat
  • POSTED ON: March 25, 2021

Elon Musk’s recent fascination with Bitcoin has grown more
intense, as the Tesla CEO is now claiming that we can purchase a Tesla vehicle
with Bitcoin.

Well, yes, and he’s not even kidding!

The world’s-richest-person-turned-twitter-troller, pardon,
Space X’s CEO, Elon Musk, tweeted on Wednesday, saying, “You can now buy a
Tesla with Bitcoin.”

Earlier in February, the company announced that it is now
considering Bitcoin as a means of payment “in the near future.” In the same
month, the company even claimed that it has purchased about $1.5 billion worth
of Bitcoin.

After being skeptical for a short while, Musk has now fully embraced
this new asset!

During an interview with a media organization on 31st
January, the 49-year-old businessman said, “I do at this point think Bitcoin is
a good thing, and I am a supporter of Bitcoin.” He added, “Many friends of mine
have tried to convince me to get involved in Bitcoin for a long time.”

“I think Bitcoin is really on the verge of getting broad
acceptance by conventional finance people,” he continued.

In case you’re wondering how that would work, keep reading.

Musk shared some of the details in a series of tweets. He
says that the vehicle manufacturing company operates its own Bitcoin nodes and
makes use of their “internal & open source software” for the
crypto-currency payment method.

For all those who are bullish on the value of Bitcoin, Musk
also claimed that Tesla plans to keep the Bitcoins they will get in car sales,
instead of converting them into traditional currency.

At last, Musk said that this payment will only be available
for people living in the U.S. However, the company plans to make this payment
method available for other regions “later this year.”

 What will happen
after Musk’s decision?

Well, it’s too early to measure the impact of this news on
the crypto-currency market. Originally regarded as the future of payments,
Bitcoin is used more for investment purposes and saving of value; it is a
hypothetical asset, mostly because of its volatility.

As far as Tesla buyers are concerned, these dudes are rich
and even for them, Bitcoin isn’t a practical choice for payments. But despite
that, the market has received this news with open arms. And as anyone would
expect, the value of Bitcoin surged after Musk’s announcement, jumping from
around $53,700 to $55,400.

It’s probably the right time to go long on Bitcoin! What do
you think? Share your thoughts with us in the comment section below. Also, like
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CEO Elon Musk is optimistic that many of his buyers will buy Tesla with the crypto-currency. So will be buying a new electric car Tesla with Bitcoin? 

Updated March 25, 2021
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