Elon Musk: You can now buy a Tesla using Bitcoin

March 24, 2021763 views0

Tesla CEO Elon Musk has announced on Wednesday, March 24, 2021, that you can now purchase a Tesla using Bitcoin.

Musk made the announcement in a series of tweets through his personal Twitter account stating that customers can now buy a Tesla with Bitcoin.

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 paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” he also tweeted on Wednesday.

The tech billionaire added that Tesla operates bitcoin nodes directly and only uses internal and open source software for its bitcoin operations.

As per the announcement, only US customers will be able to buy using bitcoin. Bitcoin payments for customers outside of the US will be available later this year.

Last month, Bitcoin’s price skyrocketed to an all-time high of USD 44,200, after Musk has announced the company’s investment of $1.5 billion worth of bitcoin along with the acceptance of bitcoin as a mode of payment.

According to the company’s SEC filing, they acquired bitcoins “to provide [Tesla] with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.”

The price of 1 bitcoin as of March 24, 2021 5:30 PM is at USD 56,680.99 as per CoinMarketCap. When converted to Philippine Peso, a single bitcoin costs Php 2,754,696.114‬ each.