Tesla vehicles can now be bought using bitcoin

Tesla vehicles can now be bought using bitcoin

FILE PHOTO: Representations of virtual currency Bitcoin are seen in front of Tesla logo in this ill
FILE PHOTO: Representations of virtual currency Bitcoin are seen in front of Tesla logo in this illustration taken, February 9, 2021. REUTERS/Dado Ruvic/File Photo

PALO ALTO, California: Tesla chief Elon Musk said on Wednesday (Mar 24) the company's electric vehicles can now be bought using bitcoin and the option will be available outside the United States later this year.

"You can now buy a Tesla with bitcoin," he tweeted on Wednesday, adding that bitcoin paid to Tesla will not be converted into conventional currency.

The electric-car maker had last month said it bought US$1.5 billion of bitcoin and would soon accept it as a form of payment for cars, sending the price of the world's most popular cryptocurrency soaring.

Musk, who has been promoting cryptocurrencies through his Twitter account, had last month criticised conventional cash, saying when it "has negative real interest, only a fool wouldn't look elsewhere"

He had said that the difference with cash made it "adventurous enough" for the S&P 500 company to hold the cryptocurrency.

READ: Tesla buys US$1.5 billion in bitcoin, to accept it as payment for cars soon

READ: Commentary - Elon Musk gambles big on bitcoin to keep Tesla going strong

Following Tesla's investment in bitcoin, several companies, including Uber Technologies and Twitter had shared their views on the cryptocurrency.

Uber chief executive Dara Khosrowshahi said the ride-hailing company discussed and "quickly dismissed" the idea of investing in bitcoin. However, he added that Uber could potentially accept the cryptocurrency as payment.

Twitter had said earlier it was still undecided in holding bitcoin, while General Motors Co said it will evaluate whether bitcoin can be accepted as payment for its vehicles.

Tesla recently added "Technoking of Tesla" to Musk's list of official titles.

Source: Reuters/aj

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