Buy a Tesla and pay for it in Bitcoin, Tesla CEO Elon Musk said that US customers can now buy the company’s cars using Bitcoin.
Buy a Tesla and pay for it in Bitcoin
- Musk announced the news in a tweet he posted on his Twitter account on Wednesday, writing: “You can now buy a Tesla car with Bitcoin.”
- In a follow-up tweet, Musk added that the bitcoin paid to Tesla would not be converted by the electric car company into regular currency.
- He also clarified that the option to pay with Bitcoin will be available outside the US later this year.
- Shortly after Musk’s tweet, the price of Bitcoin rose nearly 3% to $56,242.
- That’s more than it costs to buy a primitive Tesla Model 3, which costs just under $40,000.
Buy Tesla cars with Bitcoin
- The Tesla Model X Plaid is the most expensive of the company’s cars, with a starting price of about $120,000, which is a little more than two bitcoins.
- Tesla previously indicated its plans to accept digital currency from buyers in a filing with the Securities and Exchange Commission last month.
- When she said she expects to “begin accepting bitcoin as a payment method for our products in the near future, initially on a limited basis.”
Bitcoin vs Tesla car
- The company also announced at the time that it would invest $1.5 billion in bitcoin as part of a strategy to “invest a portion of the company’s cash in some specific alternative reserve assets.”
- Earlier this year, Musk, who in the past has expressed skepticism about cryptocurrencies, said.
- During an interview on the social app Clubhouse, he believes that Bitcoin is on the verge of “gaining wide acceptance by traditional finance experts”.
- He added that he should have bought the digital currency 8 years ago.
