Tesla CEO Elon Musk revealed that clients could now pay for their electrical cars in bitcoins (BTC), and the business does not intend to transform the BTC to cash

Elon Musk revealed the other day that Tesla had actually begun accepting Bitcoin as payment for its electric cars. This comes despite arguments relating to Bitcoin’s position as a store of worth or as a medium of exchange.

The CEO tweeted about this, mentioning that “You can now purchase a Tesla with Bitcoin“. This information was launched earlier this year when the electrical vehicle company had actually purchased $1.5 billion worth of bitcoins. Tesla had actually exposed back then that it would begin accepting BTC as payment for its products however didn’t specify a specific date.

According to Musk, Tesla has no intention of converting the bitcoins to fiat currency. “Tesla is using only internal & open source software application & runs Bitcoin nodes straight. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency”, he included.

Musk made this statement after Twitter users started discovering the support for BTC as a payment choice in the business’s United States stores. Tesla will offer the Bitcoin payment choice for all models of its electric vehicles.

The Tesla and SpaceX manager explained that the payment alternative is just readily available to those in the United States at the moment. Tesla is dealing with making it available to customers outside the United States quickly. The business even more added that it is just supporting BTC and no other cryptocurrency, and consumers are expected to pay the exact quantity of bitcoins for their orders in one deal.

Elon Musk has actually been a long-lasting advocate of Bitcoin and other cryptocurrencies. He has marketed them to his big following on social networks and followed it up by buying bitcoins worth $1.5 billion. This latest development could convince the other leading business to accept BTC as a payment choice.