Categories: News

Tesla Starts Accepting Car Payments in Bitcoin!

It’s not exactly a secret that Elon Musk is quite a strong supporter of Cryptocurrency. I mean, the fact that he just spent (or invested, if you prefer) around $1.5BN in Bitcoin should be a fairly solid indicator of that. Despite its growing popularity, it should still be noted that it’s still not widely accepted as a common currency. Well, at least not yet! – Following an official Twitter post by Elon Musk, however, it would appear that Tesla (at least in America) is embracing it even further by actually accepting it as payment for their cars!

Tesla is Accepting Bitcoin

While this is currently an option only available to consumers from within America, in a follow up post Elon Musk did confirm that Tesla planned to extend their payment optional globally before the end of the year. So, in a nutshell, something like a Tesla Model S can currently be purchased, in Bitcoin, for around 1.3BTC.

The biggest question though, is why are they doing this and, more so, if it’s a smart or stupid decision!

Great Success or Huge Backfire!

With the price of Bitcoin currently sitting at around $55,000-$60,000, one major question regarding it is whether this is the true value of the Cryptocurrency or whether it has the potential to rise even more. For example, if this did happen, then the coins Tesla accepts today could be worth twice as much in just a few months. There is, however, always the potential that the value could suddenly drop (or even nosedive) and, in which case, the consumer is the clear winner.

Overall though, I think this is probably an amazingly smart long-term decision by Tesla and, who knows, if the value keeps going up (which many expect it to do) then they’re hardly going to lose out here are they?…

What do you think? – Let us know in the comments!

Mike Sanders

Disqus Comments Loading...

Recent Posts

MSI Oculux NXG253R eSports Gaming Monitor Review

Typically, when I review a monitor, the bigger they are, the more expensive they are.…

11 hours ago

AMD Officially Unveils the Radeon RX 6600 XT

After months of speculation, it's finally here. Well, technically not quite yet, but as prior…

14 hours ago

Sources Claim Next-Gen AMD/Nvidia GPUs will Require 400-500 Watts!

It's not exactly a secret that graphics cards over recent years have become significantly more…

14 hours ago

Seagate Firecuda 530 Becomes First Official PS5 Compatible SSD

Earlier this week, Sony officially began rolling out its first software beta update for the…

14 hours ago

Renders of AMD AM5 Socket (Zen 4) Leak Online

It's been well speculated for several months now that with the launch of the new…

14 hours ago

Kingston FURY Beast 3600MHz 32GB DDR4 Review

It has been about a year since I reviewed some Kingston memory. Of course, back…

2 days ago