Tesla has started accepting payments made with Bitcoin for its products and services
Musk, who was dubbed Tesla's Technoking, revealed the news of his EV company accepting bitcoin payments. He also affirmed that all Bitcoin payments to Tesla would be kept in bitcoin form and will not be converted to fiat currency.
In their SEC filing earlier this year, the car company hinted at accepting Bitcoin as payment.
Major Signals
Tesla announced that it is now receiving payments made with Bitcoin for its products and services.
For now, it's just for their U.S customers.
Tesla now has approximately 48,000 BTC and plans to hodl.
The news caused BTC to gain in price by 2.9%.
Elon Musk had declared via his Twitter handle on Wednesday morning that you can now purchase a Tesla with bitcoin. He had recently changed his title on Twitter from Tesla CEO to Tesla's technoking. Included in the Tesla website was the Bitcoin payment option as well as a page on how to pay with the cryptocurrency.
Musk also tweeted that Bitcoin will be accepted as payment for their customers outside the United States later this year. Furthermore, Tesla affirmed that Bitcoin paid to Tesla will be kept as BTC, not turned into the fiat monetary, noting that his company uses only internal & open source software and runs Bitcoin notes directly.
There was a page on Tesla's website about the payment with Bitcoin which states that Bitcoin is the only cryptocurrency Tesla accepts, not bitcoin cash or any other fork of bitcoin. The page listed steps on how to pay with BTC:
Pay from your Bitcoin wallet. Payment on BTC. You can either scan the QR code or copy and paste the bitcoin address and the exact bitcoin amount into your wallet.
U.S Visitors to the website or those who have the U.S. IP address can now see a new Bitcoin payment widget added to the checkout options of the website from the US IP address.
Tesla's acceptance of Bitcoin could have affected early on Wednesday on the cryptocurrency market. At the same time as the news break, Bitcoin's dollar value rose from $54,056 to $55,630, which is 2.9%.
According to Bitcointreasuries.org, Tesla now has approximately 48,000 BTC, a sum that would be increased when consumers trade their bitcoin for electric cars. There are different Tesla cars available for purchase ranging from the more affordable Model 3 which at the current price of Bitcoin goes for 0.67 BTC to the more luxurious Plaid Model S which goes for about 2.45 BTC.
What do you think? Let us know in the comments
