The popular electric car manufacturer, Tesla, has now started accepting Bitcoin as an alternative mode for payment. It is clear from a new tweet of Elon Musk, the founder of Tesla. According to this official announcement, Tesla is the first major automaker that is going to start accepting payments through bitcoin in exchange for the product.

The tweet of Musk says: “You can now buy a Tesla with Bitcoin.”

Musk further added that the bitcoin you pay to Tesla is going to be retained as Bitcoin and will not get converted into a fiat currency. According to him, Tesla is using the only kind of internal and open-source software to operate the bitcoin nodes directly.

Here is what he exactly said:

“Tesla is using only internal & open source software & operates Bitcoin nodes directly,”

Elon Musk added that the “Pay by Bitcoin” capability is going to be made available outside the US by the end of 2021. In February, Tesla opted for buying $1.5 billion of bitcoin. In a filing along with the United States Securities and Exchange Commission, the company added its intent to buy the coins. According to them, it is going to add more flexibility for diversifying and maximizing the returns on their cash.

Tesla also added that it is going to start accepting payments in bitcoin in exchange for their products, which are “subject to applicable laws and initially on a limited basis.”

This decision of adding bitcoin to the payment method of Tesla is surely going to come up with a fresh bloom in the bitcoin market. It looks like Elon Musk is quite impressed with the nature and interesting facts about bitcoin, which is visible from his new steps. Now it is time to see how much this is going to help the Tesla buyers.

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