Tesla Now Accept Bitcoin, Says Elon Musk

Elon Musk, the Chief Executive Officer of Tesla Inc., on Wednesday announced that customers in the United States can now purchase Tesla vehicles with Bitcoin.

The billionaire industrial designer disclosed in a series of tweets via his official handle @elonmusk.

He, however, explained that the electric vehicle manufacturing company is using only internally developed and open-source software for the transactions, saying it operates Bitcoin nodes directly.

Musk added that Bitcoin paid to the company will be kept as Bitcoin and not converted to fiat currency.

“Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.

“Pay by Bitcoin capability available outside US later this year.”

The new initiative by the world’s leading electric vehicle manufacturing company will help push Bitcoin and other cryptocurrencies to the mainstream, especially given Elon Musk and Tesla brand reach in the United States, the world’s largest economy.