By Tobi Loba
The billionaire entrepreneur and tech expert, Elon Musk, who is the CEO of Tesla and founder of SpaceX, has recently announced that Tesla electric car products can now be purchased with Bitcoin (BTC), the first and largest cryptocurrency by market capitalization.
The good news was shared by the billionaire entrepreneur via his official Twitter handle a couple of minutes ago.
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This new development implies that the whole fleet of the company’s car products, including Model S, Model Y, Model 3, and Model X, can now be purchased with Bitcoin (BTC).
Elon Musk tweeted, “You can now buy a Tesla with Bitcoin.”
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
Elon Musk added that all Bitcoin payments will be retained as Bitcoin, which implies that there will be a vast increase in the company’s Bitcoin holdings and a big win for the crypto ecosystem.
“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.”
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
Within the crypto community, this has been seen as a big win and milestone for the global adoption of cryptocurrency.
A popular crypto proponent, Samson Mow, also shared the good news with his teeming followers on Twitter, captioning the screenshot of the current status of Bitcoin (BTC) on Tesla’s official website.
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Samson Mow tweeted, “You can now buy Tesla’s with Bitcoin! It *was* inevitable.”
You can now buy @Tesla's with #Bitcoin! It *was* inevitable. 🚀 pic.twitter.com/fBD78hiskz
— Samson Mow (@Excellion) March 24, 2021
In early February, Tesla announced that it would start accepting Bitcoin as a payment option for its products in its 10-K report with the United States Securities and Exchange Commission (SEC).
Around that time, the company purchased the sum of $1.5 billion worth of Bitcoin (BTC), which opened the door for many institutional investors to consider giving Bitcoin investment a trial.
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Meanwhile, Bitcoin is still changing hands around $55,000. Many believe that the big news could kickstart another upward trend. At the time of filing this report, BTC is trading at $55,347.97, with a 3.08% price uptrend in the last 24 hours.
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