If there was an automobile company that we would all expect to make this inevitable move first, it would undoubtedly be Tesla. And this was confirmed on Twitter by Elon Musk who said that people can now buy a Tesla with Bitcoin.
Although there aren’t enough details on the logistics of this, there is no surprise that we just found this out through Musk’s tweets. The tech mogul took to social media to confirm that the company is using internal and open-source software to operate Bitcoin nodes. Interestingly, the firm won’t be converting cryptocurrency transactions to fiat currency.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
The option still hasn’t shown up on Tesla’s website although it is just a matter of time before customers spot it. For those that want more information about Bitcoin payments, the company also has a special page set to answer all enquiries.
The electric vehicle manufacturer that Bitcoin is the only crypto it’s accepting for now. The feature is only live for just customers in the U.S. as well. The support page warns that if you send a different digital currency to the specified address, you may lose funds.
This follows the companies move to buy up to $1.5 billion worth of Bitcoin in January this year. This decision helped boost the cryptocurrency’s prices to over $42,000 at that time. Additionally, it seemed to excite a lot of people across the world about getting into the crypto world.
Not everyone will be able to afford enough Bitcoins to purchase a car let alone a Tesla. But if you manage to invest wisely, perhaps your Bitcoin could rise to a price enough for you to procure one in the future.