By Laura Kemp •
Published: 24 Mar 2021 • 19:19
Elon Musk challenges Putin to a duel for Ukraine
ELON MUSK, chief executive of Tesla, has announced that you can now buy a Tesla car using Bitcoin.
Chief executive of Tesla, Elon Musk, has said that the company will now be accepting Bitcoin from consumers who want to buy cars.
Currently only available in the US, the billionaire has said the option will be expanded to other countries later in the year.
The car company announced last month that it had invested $1.5bn (£1.09bn) in the notoriously volatile cryptocurrency, sending it to a record high.
Up from last year when a single Bitcoin was worth £5,600 (€6,494.72), it is now currently trading at just over £41,000 (€47,548.44) per coin.
Bitcoin paid to Tesla will not be converted into cash and will be retained as cryptocurrency, Musk has said.
The announcement comes after Tesla recently reported that it had made an annual profit after losses.
Vice president of market intelligence at cryptocurrency research firm Messari, said: “I think we will see an acceleration of companies looking to allocate to Bitcoin now that Tesla has made the first move.”
“One of the largest companies in the world now owns Bitcoin and by extension, every investor that owns Tesla (or even just at S&P 500 fund) has exposure to it as well.”
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Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features.
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