Elon Musk announces on Twitter that Tesla can be now purchased with Bitcoin

The CEO of Tesla made an announcement that users can buy Tesla using Bitcoin

author_img IANS Published :  24th March 2021 10:44 PM   |   Published :   |  24th March 2021 10:44 PM
Elon Musk

Elon Musk

Elon Musk the CEO of Tesla, on Wednesday, said that people in the US can now buy a Tesla with Bitcoins. The option to pay with the popular cryptocurrency will be available to other countries later this year.

Over a month ago, the electric car company announced that it will start accepting Bitcoin as a payment method. Tesla has already invested $1.5 billion in Bitcoins.

Currently, a Bitcoin is worth a little over $56,000. This means that people have to pay a little less than one coin to buy the entry-level Tesla.

The entry-level Tesla Model 3 Standard Range Plus has a starting price of $37,990. The Long Range starts at $46,990, and the top-of-the-line Performance begins at $54,990.

Musk tweeted saying, "You can now buy a Tesla with Bitcoin.” He also added, "Tesla is using only internal and open-source software. It operates the Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” He further said that pay by the cryptocurrency capability will be made available outside the United States later this year. 

The option to pay using the cryptocurrency now appears on the company's United States website. The users can pay using the available options of scanning a QR code or copying and pasting its bitcoin wallet address to initiate the payment.

According to Tesla's Bitcoin payment terms and conditions, its vehicles will continue to be priced in US dollars.

Musk has also reportedly sent tweets in support of Dogecoin. This led to a rise in the cryptocurrency's value.

*Edited from an IANS report.