October 16, 2021

Americans can now buy Tesla with bitcoin

Bitcoin owners can now buy a Tesla directly with the crypto coin. Elon Musk announced this on Twitter. For the time being this is only possible for Americans, the rest of the world may follow later. Musk promises that the bitcoins will not be converted to fiat money.

Elon Musk declares you can now buy a Tesla with bitcoin in the US | TechCrunch

It had been known for some time that Tesla wanted to accept bitcoins as a means of payment. Elon Musk’s company invested $ 1.5 billion in the coin in early February and then promised that it would be possible to pay with the coin ‘soon’. That is now possible, Musk writes on Twitter .

In two tweets, the businessman writes that Tesla uses internal and open source software for the Bitcoin transactions and that they work directly with Bitcoin codes. Musk also promises that Tesla will keep the bitcoin and not convert it to fiat money, such as dollars.

On the site, Tesla has created a button and page for paying with bitcoins. It states that the processing of the bitcoin payment can take up to six hours. There you can also read that Tesla only accepts bitcoins and no other cryptocurrencies. If someone does send a different currency, the brand warns that the sender may lose the money.

Tesla is the first car manufacturer to allow payment with bitcoins and one of the few large companies to accept cryptocurrency as a means of payment. In the Netherlands, you can also pay with bitcoins at Zalando and Thuisbezorgd. Microsoft also allows bitcoin payments. Bitcoin’s value soared after Musk’s disclosure.