In another sign of Bitcoin’s growing mainstream acceptance, Tesla (NASDAQ:TSLA) Chief Executive Elon Musk says it is now possible to buy one of his company’s electric vehicles with the cryptocurrency.
The automaker revealed in February that it had bought $1.5 billion worth of Bitcoin and that it would soon start accepting the world’s most popular cryptocurrency as a form of payment.
"You can now buy a Tesla with Bitcoin," Musk Tweeted this week.
A support page on Tesla’s website explains how customers can pay for a Tesla using the digital currency. The company’s electric vehicles typically cost between $37,990 and $124,000 before taxes. People outside the U.S. will be able to buy a Tesla with Bitcoin "later this year," Musk Tweeted.
To accept the payment, Musk said Tesla is using "open-source software." He added that Tesla "operates Bitcoin nodes directly." Nodes are computers on Bitcoin’s network that work to verify transactions and avoid the cryptocurrency from being spent twice.
Elon Musk has embraced Bitcoin more than any other major technology leader. He has been Tweeting about the cryptocurrency on and off over the last few months. He’s also Tweeted about other cryptocurrencies such as Ethereum and Dogecoin.
Tesla’s share price and the value of Bitcoin have seen big gains over the last 12 months, with Tesla shares rising from around $100 to more than $600, and Bitcoin rising from $7,000 to more than $55,000.
Tech Insider
