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Elon Musk Installs Bitcoin ATM at Tesla in Nevada

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Bitcoin ATM Found in Elon Musk’s Tesla Gigafactory in Nevada

Will Reeves, the founder of Fold Inc, a company that builds payments stack for a new economy— one that puts privacy and bitcoin within the reach of every shopper, on Sunday said he saw a Bitcoin ATM at the Tesla Gigafactory in Nevada.

I “just passed by and saw @elonmusk has a bitcoin ATM at the Gigafactory,” Reeves said via his Twitter account.

Reeves accompanied the tweet with a Google maps image revealing the exact location of the ATM.

However, on Monday Elon Musk, Tesla founder and CEO, downplayed the whole bitcoin ATM, saying he did not believe the claim was accurate.

But a bitcoin ATM operator, LibertyX, in a direct message, confirmed that three bitcoin ATM machines were enabled in the factor to allow employees to access their funds and also transact bitcoin.

LibertyX said: “We have enabled 3 traditional ATMs inside so employees can use their debit cards and buy bitcoin.”

The company claimed it has installed over 5,000 crypto ATMs across the U.S. and has bitcoin buying service in 20,000 stores in the United States.

Why is this Important?

The news validates bitcoin’s growing acceptance by the mainstream and also attests to global firms like Tesla gradually considering it as a means of payment.

While bitcoin ATMs does not tell much about crypto adoption, the fact that the company claimed it has installed over 5,000 in the US alone and has bitcoin buying service in 20,000 stores in the world’s largest economy, showed bitcoin is gradually growing on people.

Also, the more people adopt the digital coin, the higher its value.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.