…digital money can now buy a Tesla.
Elon Musk announces Tesla now officially accepts cryptocurrency, Bitcoin (BTC), as a payment option for purchasing any of its electric vehicle products.
Tesla Chief Executive also added that “a bitcoin for a Tesla” is exclusively for potential US-based buyers. While other regions will tap into accessing this option later in 2021.
In line with his tweet, Elon Musk disclosed that Tesla’s latest payment method via digital currency portrays the fast pace at which cryptocurrency is globally accepted.
Accordingly, Tesla will not need to traditionally convert the digital currency to real-time cash because bitcoin is a lucrative liquid asset that gradually appreciates in the long-term. Meanwhile, he has condemned real-time cash on his social media.
Remember the early days of February when Tesla injected a huge amount of funds in acquiring the digital currency as a liquid asset, according to his tweet at the time.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
The investment rapidly bolstered Bitcoin’s growth in the trading market soaring above the popular demanded currency, Dollar — BTC gained 16% extra compared to its previous gains which were equivalent to $50,000 at the time.
After Elon Musk publicly revealed his bitcoin investment was in Tesla’s name. Rumors had it that with cryptocurrency an individual could purchase an electric vehicle made by Tesla, which Elon Musk confirmed in his tweet as a coming soon option for potential buyers.
It is no brainer Twitter is Elon Musk’s channel for public announcement. He recently condemned real-time cash — his mindset is focused on the in-depth negative Interest attached to using real-time cash as an investment. Bitcoin is liquid enough to uphold a company’s financial asset — a better alternative for investment and “only a fool wouldn’t look elsewhere.”
According to Elon Musk, he is charmed by Bitcoin’s adventurous nature that inspired the initial $1.5 billion he spent on acquiring cryptocurrency in February. He has been promoting the lucrative ROI of venturing into managing digital assets. He also noted that the S&P 500 company finds Bitcoin adventurously lucrative.
Elon Musk’s Bitcoin campaign via his social media has pushed other Chief Executives to venture into acquiring a digital asset, especially Uber Technologies Inc. — the ride-hailing company’s chief executive, Dara Khosrowshahi revealed that Uber will add cryptocurrency as a payment option as a tweaked feature as its services. Uber’s top-level management once had a quick meeting on this matter.
Still, other companies including Twitter Inc and General Motors Co are yet to be decisive in accessing the functions of dealing with cryptocurrency as a payment option for their services or products. Meanwhile, GMC’s consent towards the digital asset portrays a strong sense of utility — they are likely to accept cryptocurrency as a payment option for purchasing their products.
Elon Musk seems to be laid back observing the significant shift towards the FinTech sector he has been promoting by his presence in the industry whilst he was recently ordained the “Technoking of Tesla.”