07 April 2021
Elon Musk, founder and CEO of Tesla, has announced that Tesla cars can now be purchased using Bitcoin. He made the announcement through a tweet and even though not everyone is seeing the new alternative payment method, some have been lucky to access it. The support is currently live only for the people living in the United States at the moment.
This makes Tesla the first major carmaker in the world to support Bitcoin as a valid mode of payment. The announcement is not surprising considering that Musk is one of the most vocal influential tech personalities in favor of cryptocurrencies. Tesla even bought Bitcoins worth $1.5 billion last month and made its intentions public. Musk has also been tweeting and encouraging people to switch to cryptocurrencies for quite some time.
You can now buy a Tesla with Bitcoin— Elon Musk (@elonmusk) March 24, 2021
The process of buying a Tesla with Bitcoin is very simple and straightforward. The first step is to visit the website and choose the Bitcoin payment option. Next up, simply scan the QR code or copy and paste the Bitcoin address and the exact Bitcoin amount into your wallet. It should be noted that if you end up paying any other cryptocurrency using the method, then you will likely end up losing the fund as well.
Tesla says that while the transaction processing takes less than a minute, it can also take up to six hours in some cases. There is a dedicated support page explaining everything you might have to know about using Bitcoins to purchase Tesla cars. Lastly, the company will not be converting received Bitcoins into fiat currencies.