Bitcoin news live: Latest updates as Elon Musk says Tesla is selling cars for cryptocurrency


Tesla CEO Elon Musk has announced that customers will be able to purchase a Tesla car using bitcoin.

“You can now buy a Tesla with Bitcoin,” he said in a tweet, going on to clarify that Tesla will be keeping the money received from customers as bitcoin, rather than storing it in a traditional currency like dollars.

“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,” he said in another tweet. “Pay by Bitcoin capability available outside US later this year.”

However, this news comes as bitcoin is expected to crash. Bobby Lee, founder of cryptocurrency exchange BTCC, has predicted that the cryptocurrency will lose 90 per cent from its value – cause it to stagnate in a “crypto winter” that could last for years.

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In the early hours of the morning on the east coast, and the middle of the night for the west, Tesla CEO Elon Musk announced that payments for electric vehicles can now be taken in bitcoin.

In February, Tesla announced that it had invested $1.5bn into the cryptocurrency. The company said that it would “begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”

Adam Smith24 March 2021 09:30





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