Bitcoin surged into the green zone on Wednesday as Elon Musk announced that Tesla can now be purchased using the token.
The Tesla CEO made the announcement via a tweet which stated “you can now buy a Tesla with bitcoin.”
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
Musk also added that Tesla will not be converting its Bitcoin payments to fiat, as the automaker “is using only internal and open-source software, and operates Bitcoin nodes directly”.
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Bitcoin gained over 3.4 percent to $56,045 at 9:13 am WAT, breaking out of the consolidation zone, according to data from Coindesk,
After Tesla famously converted US$1.5 Billion to Bitcoin earlier in the year, the company is now ready to offer it as a payment method in the continental United States, which was suggested in the Q4 2020 SEC filings.
A support page on the Tesla website lists the following information about the new payment type.