- Americans can now also pay for Tesla with bitcoin, CEO Elon Musk reports.
- Later this year, customers outside the US will also be able to pay with digital currency.
- Tesla keeps the bitcoins you receive as bitcoins, so they are not exchanged for traditional currencies.
Americans now have the option to pay with bitcoins at car maker Tesla. This was announced by CEO Elon Musk via Twitter.
Customers outside the US will have to wait a little longer before they can purchase the brand’s electric vehicles with cryptocurrency. Musk has reported that this functionality will follow later this year.
Earlier this year, Tesla announced its intention to accept bitcoin as a payment method. The auto and technology company itself has invested $1.5 billion in digital currency.
Musk has now reported on Twitter that the bitcoins the company receives are being held as bitcoins. Therefore, the company does not intend to exchange it for traditional currencies.
The value of Bitcoin has risen sharply
The value of Bitcoin has risen sharply over the past year, on and off. The coin is currently worth more than eight times what it was a year ago, according to figures from CoinMarketCap.com.
The broader acceptance of cryptocurrencies plays a role in this. For example, more and more professional investors are investing in bitcoin.
Read more on Business Insider
After Musk’s announcement, the value of Bitcoin skyrocketed again. On Wednesday morning, Bitcoin was trading at just over $56,000.
ALSO READ: Tesla May Actually Earn More Bitcoin Than Total Annual Profit In 2020
