Tesla CEO Elon Musk Announced That Tesla Will Be Accepting Bitcoin As Payment For Cars
Tesla CEO Elon Musk Announced That Tesla Will Be Accepting Bitcoin As Payment For Cars. “You can now buy a Tesla with Bitcoin. 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.” Tesla CEO Elon Musk tweeted early Wednesday.
Tesla announced last month it had purchased $1.5 billion of bitcoin amid efforts to “diversify and maximize returns” on its cash. The company said it may invest its cash in more alternative assets, including digital currencies and gold bullion, in the future. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software. Bitcoin continues to lead the pack of crypto currencies, in terms of market capitalisation, user base, and popularity. Nevertheless, virtual currencies such as ethereum and ripple, which are being used more for enterprise solutions, are becoming popular, while some altcoins are being endorsed for superior or advanced features.
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla’s current products include electric cars, battery energy storage from home to grid scale, solar panels and solar roof tiles, as well as other related products and services.
Analyst Dan Ives told Market Watch that, “We were not expecting this to go live until the second half of this year. This is a seminal moment for Tesla and for the crypto world with Musk now cutting the red ribbon on bitcoin transactions within the broader Tesla ecosystem.”
