Last month, Electric Vehicle company owned by Technoking and currently second world’s richest man; Elon Musk, announced that it had invested the sum of $1.5 billion in Bitcoin. This news is one of the major factors that has helped Bitcoin surge and break limits and milestones continually. After the announcement that Tesla had invested in Bitcoin, the EV company promised that people would be able to acquire its vehicles using the king of cryptos; Bitcoin in the nearest future. Well, its seems that future is here and now!
The CEO of Tesla and Space X announced via his twitter page yesterday that Tesla’s Electric Vehicles can be bought using Bitcoin. The tweet read, “You can now buy a Tesla with Bitcoin”.
While the option of buying Tesla vehicles using Bitcoin is only available to people in the United States of America for now, the CEO promised that this payment option would also be available in other countries outside the US soon as it is already working towards that. In this regard the CEO tweeted that, “Pay by Bitcoin capability available outside US later this year”.
“Tesla is using only internal and open source software and operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency”, Elon Musk said.
Tesla specified that when it comes to cryptocurrency, only Bitcoin can be used in making purchases. The Terms and Conditions regarding payments read, “You may not make purchases with us using any other digital asset, including Bitcoin fork products, such as Bitcoin Cash (BCH) and Bitcoin SV. Our Bitcoin digital wallet is not configured to detect or receive digital assets other than Bitcoin”.
Tesla has always been at the forefront of Bitcoin related controversies. In fact, its investment in Bitcoin has pushed other global brands and companies to integrate Bitcoin (and other cryptocurrencies) into ots operations. For instance, BNY Mellon started to transact Bitcoin (and other cryptocurrencies) for its customers shortly after Tesla’s investment in the cryptocurrency. Payments platforms like Mastercard that previously didn’t allow cryptocurrency to be used directly on its platform now allows for that. Even Visa recently joined the crypto train.
While the option of Bitcoin payment is only available in the US for now, users in other countries are already anticipating their first Tesla purchase using Bitcoin.