You can now buy a Tesla with Bitcoin!
Author: Hudson Labno
In a Tweet early Wednesday morning, Elon Musk announced that Tesla would accept payment in Bitcoin. This major news comes in the wake of Tesla purchasing 1.5 Billion in Bitcoin. And, while the currency is volatile - regularly losing/gaining over 25% each month - Tesla’s continual investments seem to indicate confidence in a bullish price for the near future.
The option to pay with Bitcoin appears besides card payment as if it’s normal! If you select the Bitcoin option, an address will be provided to send the money within 30 minutes.
This move is a major step in legitimizing Bitcoin as a currency that has real value in our economy. While it’s a risky move for Tesla, the company and its founder are no stranger to taking gambles.
Tesla came within weeks of running out of cash during challenges in Model 3 production. And, that wasn’t the first time. Both Tesla and Elon Musk’s Space X were days away from an unfortunate demise before fate intervened. So, it’s safe to say that “risking” 1.5 Billion dollars + the cost of new Tesla orders is no big deal.
We have already seen several people Tweeting about their new Tesla order paid in Bitcoin! The number of crypto-funded orders isn’t available yet. But, we can expect these numbers to be released in a future earnings report if not via Elon Musk tweet. For now, all we can do is wait to see how many people choose payment with digital gold over cold hard cash.
Hudson Labno
