Tesla Announces Car Sales In Bitcoin

Leading US carmaker Tesla has announced that it will sell cars in Bitcoin.

According to the BBC, Tesla founder Alan Musk said in a statement that "now our customers can buy cars using Bitcoin, but this facility is for people living in the United States, while people in other countries will be able to use it until the end of this year." Will be able to benefit from the facility.

He said that in case of purchase from bitcoin, the amount paid will remain with the company in case of bitcoin and no other currency will be taken in return.

It is worth mentioning here that the price of bitcoin is constantly going up and down, which means that the price of the car can also change on a daily basis.

It should be noted that after the tweet of Alan Musk, the price of bitcoin has suddenly increased by 4%, which has caused huge losses to investors trading in other currencies.

It may be recalled that some time ago, Tesla had bought a bitcoin worth 1.5 billion, after which the price of the coin had skyrocketed.

Elon Musk, chief executive officer (CEO) of electric car maker Tesla, says consumers will now be able to buy their cars with bitcoin.

Elon Musk's announcement is an important step in the use of cryptocurrencies in commerce.

"Now you can buy a Tesla with a bitcoin," Elon Musk said in a tweet, according to Reuters.

He added that the option would be available outside the United States later this year.

The electric car maker said last month that it had bought 1.5 billion worth of bitcoins and would soon start accepting bitcoins to pay for cars.

This was followed by a sharp rise in the value of the bitcoin to 62,000.

The value of the world's largest digital currency, the bitcoin, rose more than 4% after Elon Musk's tweet, trading at 56,429.

Elon Musk said the bitcoin paid to Tesla would not be converted into a traditional currency, but gave other details on how the bitcoin would be paid.

He said that the company is using 'internal and open source software' in this regard.

Keep in mind that most large companies, such as AT&T and Microsoft, which allow customers to pay with bitcoin, use special payment processors that convert cryptocurrency into dollars and send the total amount to the company.

Bitcoins are rarely used in large economies like other cryptocurrencies.

Elon Musk, who regularly tweets about cryptocurrencies, criticized traditional cash last month.

Following Tesla's investment in bitcoin, MasterCard and Bank of New York Mellon have also begun working on the issue.

In this regard, it is predicted that bitcoin and other cryptocurrencies will soon become a regular part of investing.

Elon Musk revealed on February 8 that Tesla was going to accept Bitcoin as a form of payment for its electric cars "in the near future" , and that day has already arrived. Tesla accepts Bitcoin to buy any of its vehicles from today . Elon Musk himself announced it through his Twitter account. "Now you can buy a Tesla with Bitcoin," confirmed the president and co-founder of the Californian company.

Tesla lets you buy your cars with Bitcoin

As added by the South African tycoon, one of the two richest people in the world along with Jeff Bezos ( Amazon ), " Tesla uses only internal and open source software and operates the Bitcoin nodes directly." Furthermore, as Musk has said, "Bitcoin paid to Tesla will be kept as Bitcoin, it will not be converted to fiat money" such as dollars, euros or any other official currency.

This means that whoever has a Bitcoin in the United States could exchange it right now for a Tesla Model 3 Standard Range Plus , the entry version of the electric saloon with 263 miles of autonomy (about 423 kilometers) and rear wheel drive, which is priced at the North American market of $ 37,990 without aid or discounts. In addition, he would have almost $ 20,000 left over , since a single Bitcoin is currently worth $ 56,520 , 10,000 more than a month and a half ago, when Tesla announced that it had invested $ 1.2 billion in the famous cryptocurrency.

For a little less than a Bitcoin is worth, we could also buy a Tesla Model 3 Longe Range in the United States, the extended range version (353 miles or 568 kilometers) with all-wheel drive, which is priced at $ 46,990 in the North American market. We would still have almost $ 10,000 to pay for vehicle insurance for several years and install an electric charging point at home, although that is not essential either because Tesla customers have free and unlimited recharging in the company's Superchargers (more than 20,000 points worldwide).

To exchange a Bitcoin for a Model 3 in Europe we would have to put 1,300 euros more, since the access version of the electric saloon has a price of 49,000 euros in the Spanish market and the value of the cryptocurrency in Europe is 47,725 euros . Of course, it is the standard autonomy version plus with 448 kilometers of range and rear-wheel drive, which accelerates from 0 to 100 km / h in 5.6 seconds and reaches a maximum speed of 225 km / h (electronically limited).

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