Tesla Now Officially Accepts Bitcoin, Elon Musk Says BTC Will Not Be Converted to Cash

By Daily Hodl Staff

Tesla is following through on its promise to accept Bitcoin.

Elon Musk just made the official announcement on Twitter. He says the company will hold on to and accumulate all BTC earned from sales of the company’s suite of electric cars.

“Tesla is using only internal and open source software and operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.

Pay by Bitcoin capability available outside US later this year.”

Tesla first disclosed its plans to accept Bitcoin back in February in an SEC filing that also revealed the company had purchased $1.5 billion in BTC.

Bitcoin’s price was approximately $44,000 at the time Tesla’s investment in the top cryptocurrency was first made public.

It is now worth $53,000 after retreating from an all-time high of $61,711 on March 13th, according to CoinGecko.

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Featured Image: Shutterstock ParabolStudio