Elon Musk says people can now but a Tesla with Bitcoin.
# The automaker last month revealed that it had bought $ 1.5 billion worth of bitcoins
# People outside the U.S. will be able to buy a Tesla with bitcoin “later this year.”
# In order to accept the payment, Elon Musk said Tesla is using “internal and “open Source software”
The automaker last month revealed that it had bought $1.5 billion worth of bitcoin and that it would soon start accepting the world”s most popular cryptocurrency in the form of payment.
A support page of Tesla’s website explains how customers can pay for a Tesla using digital currency. The company’s electrical vehicles typically cost between $ 37,990 and $124,000 before tax.
People outside the U.S. will be able to buy a Tesla with bitcoin “later this year” Musk said, without specifying which countries.
This is a seminal movement for Tesla and the crypto world with Musk now cutting the red ribbon on Bitcoin transactions within the broader Tesla ecosystem. It will be 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.
Tesla’s image as an environmentally friendly car company sits at odds with the bitcoin network’s colossal carbon footprint. Researchers at the university of Cambridge found that it uses more electricity on an annual basis that the whole Argentina. The bitcoin emissions alone could push global warming above 2 degrees celsius.
The Tesla’s share price is now directly tied to the value of bitcoin. Tesla’s share price and the value of bitcoin have seen huge gains over the last 12 months. Some investors, however, are convinced that Tesla and bitcoin are both in bubble territor