BUSINESS AND FINANCE

You can now buy a Tesla with Bitcoin

Elon Musk, the second world’s richest man, just announced via Twitter that you can buy a Tesla with Bitcoin.

The billionaire also revealed that such Bitcoin capability will be available outside the US later this year.

In his words, he said “Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”

This comes as no shock to many on the account that a few months back the founder of Tesla, Elon Musk made inquiries about converting “large transactions” of Tesla’s balance sheet into Bitcoin from Michael Saylor, a prominent supporter of the digital currency.

The world’s most valuable carmaker in its most recent term and conditions revealed Bitcoin was the only Crypto accepted by Tesla for such payment

“You may not make purchases with us using any other digital asset, including Bitcoin fork products, such as Bitcoin Cash and Bitcoin SV. Our Bitcoin digital wallet is not configured to detect or receive digital assets other than Bitcoin,” states the terms.

Tesla had earlier disclosed it has made $1.5 billion worth of investments in Bitcoin.

“Thereafter, we invested an aggregate of $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”

The fast-rising American electric car manufacturer further disclosed that it made the bet on Bitcoin after updating its investment policy last month to allow Tesla to invest in digital assets as well as gold bullion and gold exchange-traded funds.

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