Starting today, you can purchase a Tesla car in the US with Bitcoins!

Elon Musk, the famous businessman and founder of the Tesla brand and well-known celebrity, announced this morning that Tesla cars can be paid for with bitcoin cryptocurrency! He first announced the aforementioned news earlier this year, when Elon Musk’s company purchased about 43,000 bitcoin for $1.5 billion. 

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A new era of expensive car purchases?

The hour of 8:00, March 24, 2021 will go down in history as the day when a luxury good can be paid for with bitcoin cryptocurrency. The first reaction to the revelations from overseas was a $900 upward spike in the listing. Many analysts believed that the words of billionaire Elon Musk were a bluff regarding the possibility of financing the purchase of a car with the use of cryptocurrency…until today. It is worth recalling that a few months ago, the company invested about $1.5 billion to secure capital in the bitcoin cryptocurrency. Not long ago, on Twitter Elon Musk announced his decision:

– We have invested a total of $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or on a long-term basis. In addition, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable regulations and initially on a limited basis, which we may or may not liquidate upon receipt. 

Impact of the decision on the bitcoin market

A month and a half after this publication, we witnessed the revelation I described above. 

A few minutes later, Elon Musk added that bitcoins raised by Tesla from car sales will not be exchanged for traditional currency. This means that they will fuel the already massive cryptocurrency base maintained by the company.

Today we see that Bitcoin went up by $900 after the ‘chirp’, while Tesla shares wait for the pre-market opening. Just after 08:00, Bitcoin rose by almost $900, gaining 1.6% and testing the $55.55k level, a session high.

Other entries regarding Bitcoin:

Bitcoin’s drop in price and a brief review of quotes from today
Will bitcoin soon reach $100k? This is what one analyst, Kaleo, predicts