Elon Musk announced today, on Twitter, that Tesla has begun accepting payment for its range of cars in Bitcoin. A Bitcoin payment button has appeared on the Tesla website.
Notably, Musk added that the Bitcoin paid to Tesla will be retained in its original form and not converted to fiat currency; it will be added to the cryptocurrency reserves the carmaker already holds.
Earlier this year, Tesla bought $1.5 billion in Bitcoin. The company said, in its February SEC filing, that it intended to accept payment in Bitcoin for its products, including its cars, in the near future. Tesla took just six weeks to fulfill its pledge.
Elon Musk also said that the company is using only internal and open source software and operates Bitcoin nodes directly.
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
Bitcoin reacted favorably to the news. In recent weeks, Musk’s tweets, about both Bitcoin and joke crypto Dogecoin have helped to move the markets.
Musk added that Tesla customers will be able to pay by Bitcoin outside the US later this year.
This story is developing.
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