Tesla customers can now purchase Tesla cars using bitcoin, according to the company’s CEO, Elon Musk, who announced the news in a tweet, marking a major move forward for bitcoin’s usage in commerce.
Musk announced on Twitter that “you can now buy Tesla cars with bitcoin,” adding that the option will be available outside the United States later this year.
Tesla has made a major investment in Bitcoin, purchasing $1.5 billion in the digital currency.
Musk stated that bitcoin payments to Tesla would not be converted into conventional currency, but he provided few other specifics on how bitcoin payments would be handled.
Companies such as Mastercard Inc and Bank of New York Mellon Corp have adopted bitcoin as a result of Tesla’s investment, prompting forecasts that bitcoin and other cryptocurrencies will become a regular part of investment portfolios.
Customers will pay for a Tesla using the digital currency, according to a help page on Tesla’s website.
Tesla is using “internal” and “open source tools” to approve the invoice, according to Musk.
Tesla’s stock price and bitcoin’s value have soared in the last year, with Tesla stock growing from about $100 to over $600 and bitcoin rising from about $7,000 to over $55,000.
Read More on Tech Gist Africa:
Tesla purchases $1.5 billion worth of Bitcoin, intends to accept cryptocurrency as payment
Elon Musk overtakes Jeff Bezos to become the richest person in the world
Bitcoin exceeds $50,000 for the first time as Major Corporations jump into Cryptocurrency
