Tesla cars can now be bought with Bitcoin, according to Elon Musk The CEO and “Technoking” of the electric car company said the company will run Bitcoin nodes directly and keep the Bitcoin it earns instead of converting it to fiat.
Tesla first signaled its intention to start accepting Bitcoin for products in early February, following its purchase of $1.5 billion worth of the digital asset, an SEC filing showed. The option to buy a Tesla using BTC will only be extended to U.S-based customers for the time being.
Elon Musk’s insistence that the Bitcoin earned through the sale of the firm’s vehicles won’t be converted to fiat suggests it is not just being utilized as a transactional medium, but also an investment tool.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
Tesla can enter a global network of peer-to-peer operators that host and synchronize the Bitcoin blockchain by operating its own dedicated Bitcoin nodes.
A new Bitcoin payment widget has been introduced to the Tesla website’s checkout options for visitors from the United States. Tesla’s adoption of Bitcoin may have had an early effect on the cryptocurrency sector on Wednesday.