Elon Musk has revealed that Tesla cars can now be purchased employed Bitcoin [BTC]. The electrical car CEO and “Technoking” revealed the firm would operate Bitcoin nodes directly and would hold on to the Bitcoin [BTC] it accumulates without converting it to fiat.
Tesla first signaled its intention to start out accepting Bitcoin [BTC] for products earlier in the month of February, following its purchase of $1.5 Bln worth of the digital asset, an SEC filing explained. The option to shop for a Tesla using BTC will only be extended to United States-based users for the time being.
Elon Musk’s insistence that the Bitcoin earned through the sale of the firm’s vehicles won’t be converted to fiat suggests it’s not just being utilized as a transactional medium, but also an investment tool.
By running its own dedicated Bitcoin nodes, Tesla will join a worldwide network of p2p [Peer-to-Peer] operators who host and synchronize the Bitcoin blockchain.
Visitors to Tesla’s website from a United States-based IP address will now see a new Bitcoin payment widget added to the site’s checkout options. The impact of Tesla’s acceptance of Bitcoin may are felt on the crypto market earlier Wednesday. Coinciding with the breaking of the news, the dollar value of Bitcoin [BTC] jumped 2.9% from $54,056 USD to $55,630 USD.
Tesla’s Bitcoin terms and conditions do state that Bitcoin is the sole digital asset that Tesla accepts as payment for its products at this point. “You might not make purchases with us using the other digital asset, along with Bitcoin fork products, like Bitcoin Cash [BCH] and Bitcoin SV [BSV]. Our Bitcoin digital wallet isn’t configured to detect or receive digital assets aside from Bitcoin [BTC],” states the terms.