Buying a Tesla with Bitcoin is now possible
As we all know that Bitcoin is a virtual currency. So, it may be the question of every person that Can you buy Tesla with Bitcoin?. We can’t go to any shop for purchasing things with the help of it. There’s a challenge for spending Bitcoin. There’s good news for the fans of Bitcoin. Tesla and Starlink’s CEO Elon Musk, who is currently the world’s richest man, tweeted early this Wednesday that means buying a Tesla with Bitcoin is now possible. So there’s a limitation and the limit is that it could apply only in the USA. If you are somewhere else in the world, you can’t buy a Tesla vehicle by using Bitcoin. The world’s richest man also clarified that Bitcoin could be accepted for payments in his companies made outside of the U.S. later this year.
Tesla in the US:
If you own some Bitcoins, Tesla could now accept them. In a tweet from Tesla’s CEO Elon Musk, it was announced that the company will now be accepting payment in Bitcoin. Unfortunately, this service is only available in the US, but Tesla CEO says that they do have a plan on bringing it to other countries as well. “You can now buy a Tesla with Bitcoin,” Elon Musk tweeted last night.
"Tesla is using only internal & open source software & operates Bitcoin nodes directly," he added in a follow up tweet. "Bitcoin paid to Tesla will be retained as Bitcoin not converted to fiat currency."
According to Tesla’s Bitcoin terms and conditions of payments, cars of Tesla will still be priced in the U.S.A dollars. As a result, the customers can pay the equivalent value in Bitcoin for buying cars. Moreover, the company also cleared that the payment transactions cannot be reversed. It means that if a buyer input the Bitcoin address incorrectly, Bitcoin may be lost or destroyed. The company won’t be responsible for this act.
After the tweet of Elon Musk, the price of a single bitcoin rose to over $56,000. A budget-friendly Tesla car 3 costs under $40,000. That means with the help of only one Bitcoin, you can buy an affordable Tesla vehicle.
Tesla's move to back the cryptocurrency is "a potential game-changing move for the use of bitcoin" to make retail purchases," Wedbush Securities analyst Dan Ives said in a report to investors. "We expect less than 5% of transactions to be through Bitcoin over the next 12 to 18 months however this could move higher over time as crypto acceptance starts to ramp over the coming years."