Tesla launches Bitcoin payments for vehicle orders in US, other territories to follow

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Tesla launches Bitcoin payments for vehicle orders in US, other territories to follow
CREDIT: TESLA

BySimon Alvarez
Posted on March 24, 2021

Tesla has formally launched Bitcoin payments for its lineup of all-electric vehicles in the United States. The update stands as a significant step for Tesla and CEO Elon Musk, whose support for cryptocurrencies has been evident recently.

Initial reports about Tesla’s Bitcoin payment option for vehicle orders were first reported by several EV enthusiasts on social media. It wasn’t long before numerous Tesla supporters confirmed that Bitcoin is now an actual payment option in the company’s online US configurator.




In a post on his personal Twitter account, CEO Elon Musk promoted Tesla’s launch of its Bitcoin payment support, noting that customers could now purchase their electric cars using the cryptocurrency. Musk later stated that Bitcoin payments should be available outside the United States later this year.

While Elon Musk typically tweets about Dogecoin, a joke cryptocurrency created as a satire for actual cryptocurrencies, the CEO has noted that he actually supports digital currencies. Elon Musk expressed as much during a Clubhouse session back in February, when he noted that he is a Bitcoin supporter. “I do at this point think Bitcoin is a good thing, and I am a supporter of Bitcoin. I think Bitcoin is really on the verge of getting broad acceptance by conventional finance people,” Musk said.


While Tesla’s support for Bitcoin payments seems to have been received positively, the move might present some challenges for the company in territories such as China and India. Tesla already has a prominent presence in China thanks to Gigafactory Shanghai, and the company is making preparations to enter India later this year. Bitcoin is poised to meet some potential roadblocks in China amid the country’s efforts to create a digital version of its currency, while India is pondering a Bitcoin ban.

Regardless of potential challenges in areas like China and India, however, Tesla definitely deserves credit for being a trailblazer once more. And considering the company’s tendency to set trends among automakers, it would not be surprising if other carmakers start offering Bitcoin payments in the near future as well.

https://www.teslarati.com/tesla-tsla-bitcoin-payments-confirmed/

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[CyberT]

Man, it is so tempting to use my bitcoin....... But then I think about the potential upside to what my 1/2 of a coin will be worth in 5 years and realize that it is even worse of an idea than selling any of my TSLA stock to buy my CT.

 

[OneLapper]

Man, it is so tempting to use my bitcoin....... But then I think about the potential upside to what my 1/2 of a coin will be worth in 5 years and realize that it is even worse of an idea than selling any of my TSLA stock to buy my CT.

I agree. Right now the upside of BTC outweighs even TSLA, so spending BTC now could be a huge, huge regret.

I got super lucky. A coworker, years ago, convinced me to buy BTC before I really even understood crypto currencies. That coworker retired to Mexico a year or so ago! lol

 

[tedrickpanrell]

I work with stocks every day, but for some reason, I haven't heard that we can purchase Tesla cars in Bitcoins. Many of my friends have taken out a loan to buy a Tesla. Is it really possible to take out a loan in cryptocurrency in the future? Since graduating from the online forex trading course, I have had many ways to earn extra money. But I still feel like I'm new to trading. I subscribed to the news feed and connected a lot of bots with notifications on the crypto market. But I still have to gain more experience to go full-time as a trader. Although working part-time, I earn twice as much as I used to in a regular job.

 

[CyberGus]

I work with stocks every day, but for some reason, I haven't heard that we can purchase Tesla cars in Bitcoins. Many of my friends have taken out a loan to buy a Tesla. Is it really possible to take out a loan in cryptocurrency in the future? Since graduating from the online forex trading course, I have had many ways to earn extra money. But I still feel like I'm new to trading. I subscribed to the news feed and connected a lot of bots with notifications on the crypto market. But I still have to gain more experience to go full-time as a trader. Although working part-time, I earn twice as much as I used to in a regular job.

Tesla quickly stopped accepting Bitcoin due to the outcry over the environmental impact of mining. Elon left the door open for Bitcoin "in the future" but IDK if Tesla currently accepts BTC or not.

The online store takes DOGE for a few items.

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