Bitcoin now a form of payment for Tesla: Elon Musk

Publish March 25, 2021

Tesla inc to accept bitcoin as a medium of payment for its electric cars said Elon Musk on Wednesday.

The announcement marks an important step in the acceptance of cryptocurrencies use in commerce.

Last month, Tesla inc confirmed buying $1.5 billion worth of bitcoin.

'You can now buy a Tesla with bitcoin,' Musk said on Twitter, adding that the option would be available outside the United States later this year.

Bitcoin gained by more than 4% after Musk’s tweet. It was the last trading at $56.429.

Musk said bitcoin paid to Tesla would not be converted into traditional currency, but he gave few other details on how the bitcoin payments would be processed. The company was using 'internal & open source software', he said.


Latest Stories

Irish dairy farmers' milk donations raise over €100k for famine-hit Yemen

2020-11-16 06:00:00

A campaign to encourage Irish dairy farmers to raise funds for those affected by war and famine in Yemen has so far raised more than"...
Read More

Two service projects begin in capital Sana'a

2020-11-10 04:00:00

SANA'A, Nov. 09 (Saba) - Deputy Prime Minister for Services and Development Affaires Hussein Maqbouli and capital Sana'a"...
Read More

Tamkeen Development Program: Empowering Yemeni Communities

2020-11-01 04:00:00

The conflict in Yemen has caused immense suffering and financial devastation in disadvantaged communities, leaving many dependent"...
Read More

Hodeida distributes solar systems for IDPs

2020-10-26 05:00:00

HODEIDA, Oct. 25 (Saba) - Hodeida province has started inaugurating the distribution of solar energy systems for internally displaced"...
Read More