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Tesla now accepts Bitcoin from US customers



Tesla is now offering Bitcoin as a payment option for its US customers. However, the Elon Musk-led company will retain the paid BTC and not convert it.

Early February 2021, Elon Musk revealed in a filing with the U.S. Securities and Exchange Commission (SEC) that electric carmaker—Tesla—purchased $1.5 billion worth of Bitcoin and promised to accept BTC as a form of payment. This was one of the most significant BTC purchases for many crypto enthusiasts

To further substantiate this promise, Elon Musk announced via Twitter an hour ago, that Tesla will now support Bitcoin as a payment option. The company’s entire fleet— Model S, Model Y, Model 3 and Model X — can now be purchased using Bitcoin. Musk also announced that Tesla is using “only internal and open source software” and is “directly operating a Bitcoin node.” Thus, Tesla joins the global network of peer-to-peer operators that host and synchronize the Bitcoin blockchain.

Musk also revealed that Bitcoin paid to Tesla will be retained and not converted into fiat currency. Conversely, this means that Tesla wants to further increase its Bitcoin holdings.

Only U.S. customers will be able to buy a Tesla via Bitcoin for now. But the service is to be made available to customers outside the US before the end of this year. The impact of the news was at least slightly felt at the time of writing. With the announcement, the BTC price jumped from $54,600 to $56,100.

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