Tesla Now Accepting Payment In Bitcoin, Musk Tweets
Tesla CEO Elon Musk tweeted in the early hours of Wednesday morning that Tesla customers can now officially pay for their cars with bitcoin.
The decision, announced in a series of early-morning (or late-night, depending on which coast you're on) tweets from Musk, who said the option would only be available to American customers - though he said international customers would be able to use bitcoin as payment "later this year."
What exactly does Tesla plan to do with that Bitcoin? According to Musk, any bitcoin paid to the company will be retained as bitcoin, not converted to fiat. Musk added that Tesla is operating its own bitcoin nodes (so the company presumably won't need to depend on a third party like Goldman Sachs with its crypto trading desk).
You can now buy a Tesla with Bitcoin — Elon Musk (@elonmusk) March 24, 2021
Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency. — Elon Musk (@elonmusk) March 24, 2021
Pay by Bitcoin capability available outside US later this year — Elon Musk (@elonmusk) March 24, 2021
Tesla, like a handful of far-less-high-profile companies, financed massive purchases of bitcoin with debt. The company announced its purchase of $1.5 billion in bitcoin in February.
Bitcoin rallied 5% after Musk's tweets after treading water during most of the overnight session.
Tyler Durden Wed, 03/24/2021 - 05:44
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