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American News Mar 24, 2021 10:19 AM EST

Elon Musk says Tesla can be bought with Bitcoin

Tesla electric vehicles can now be bought with popular cryptocurrency bitcoin, joining the growing ranks of top companies using the currency.

Elon Musk says Tesla can be bought with Bitcoin
Hannah Nightingale Washington DC

This article was published more than 1 year ago, information might not be up to date.

Tesla electric vehicles can now be bought with popular cryptocurrency bitcoin, joining the growing ranks of top companies using the currency, Tesla CEO Elon Musk revealed on Twitter Wednesday morning.

"You can now buy a Tesla with bitcoin," Musk tweeted in a thread early Wednesday. Currently only available as an option in the US, Musk tweeted that "Pay by Bitcoin capability available outside US later this year."

Bitcoin's price has risen nearly 4 percent to $56,530 since that tweet was published. Past tweets from Musk regarding popular cryptocurrencies including Bitcoin and Dogecoin have produced similar results, with Tesla's February investment announcement helping skyrocket bitcoin to a record high nearing $62,000.

In early February, Tesla had announced it bought $1.5 billion in bitcoin, while also revealing that in the near future the company would be taking the cryptocurrency as payment.

Musk also revealed in his tweets that Bitcoins accepted by Tesla would not converted to traditional currencies unlike other companies such as AT&T and Microsoft Corp which, according to Reuters, uses special payment processors to convert bitcoin into common currencies.

Musk tweeted that "Tesla is using only internal & open source software & operates Bitcoin nodes directly."

Other companies followed Tesla's lead after their investment announcement in February, with companies such as MasterCard Inc and Bank of New York Mellon Corp embracing the cryptocurrency, while other companies such as Uber and General Motors Co are considering taking payment at this time.

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