Elon Musk, CEO of Tesla, has said the company has now begun accepting Bitcoin for car purchases.
According to Musk, bitcoins acquired from car purchases however will not be converted to fiat and will instead be retained as bitcoin, adding to the company’s bitcoin holdings.
___________________________________________________________________
SEE ALSO: Tesla Invests 7.7% of Gross Cash Holdings into Bitcoin
___________________________________________________________________
Earlier in 2021, Tesla purchased $1.5 billion in bitcoin (7.7% of Tesla’s Gross Cash Holdings), and through an SEC filing, said it intends to accept bitcoin for payment for its cars and products.
Interestingly, Elon also announced that the company operates a bitcoin node and will only be using internal and open source software for these operations, revealing just how deep the car manufacturer is accepting and using the digital asset.
The ‘Pay by Bitcoin’ capability is currently only available in the US will be enabled later this year, according to Musk.
___________________________________________________________________
RECOMMENDED READING: FTX Becomes First Crypto Exchange to Offer Bitcoin Trading Pairs for Tesla, Amazon, Netflix, Apple, Google, and Facebook Stocks
___________________________________________________________________
Follow us on Twitter for latest posts and updates
Join and interact with our Telegram community
_____________________
Subscribe to the channel below to keep updated on latest news on video:
____________________________________________________________________
Start trading bitcoin today from as low as $10.
Open a Bizlato Bitcoin Trading Account to get started!
____________________________________________________________________
