The Bitcoin (BTC) market started March 24 with big news. Tesla CEO Elon Musk explains how to buy Tesla with Bitcoin explained that it is now possible.
“You can now buy Tesla with Bitcoin.”
Musk, who has personally been closely involved with Bitcoin and other cryptocurrencies for some time, explained that Tesla only uses in-house and open source software and operates Bitcoin nodes directly.
Tesla CEO stated that the Bitcoins obtained from these sales will not be converted into fiat money and Announced that they will be stored as bitcoin. Tesla made its first investment in cryptocurrency by purchasing $ 1.5 billion of Bitcoin on February 8, triggering a massive boom in BTC.
The CEO said that the option to pay with Bitcoin is only available in the US for now, but later in the year. announced that it is planned to be launched in other countries.
According to Cointelegraph’s report dated March 18, Tesla made a profit of $ 700 million in just 37 days from its $ 1.5 billion investment in Bitcoin on February 8. The company made a profit of $ 721 million from vehicle sales during 2020.
In the 30 minutes after Tesla announced that it would accept Bitcoin payments, Bitcoin gained nearly 2 percent in value, reaching $ 55,233 as of the time of the news release.