TESLA CEO Elon Musk announced on Twitter that Tesla now accepts bitcoin as payment for its cars in the US and available outside the US later this year.
The
bitcoin payment option appears underneath the typical “Order With Card” button where
it’s available alongside the traditional card payment option.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
Users will have the option of scanning a QR code or copying and pasting its bitcoin wallet address to initiate the payment. It adds that trying to send any other form of cryptocurrency to its wallet means it “will not receive the transaction and it will likely result in a loss of funds for you.” According to their FAQS in their website.
Tesla is using only internal & open source software & operates Bitcoin nodes directly.
— Elon Musk (@elonmusk) March 24, 2021
Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.
Pay by Bitcoin capability available outside US later this year
— Elon Musk (@elonmusk) March 24, 2021
According to Tesla’s bitcoin payment terms and conditions, its cars will continue to be priced in US dollars, and customers who choose to will pay the equivalent value in bitcoin. Tesla estimates that a $100 deposit paid today equals 0.00183659 BTC, for example.
Earlier,
the company invested a total of $1.5 billion in the
cryptocurrency.
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