Tesla CEO Elon Musk has announced that customers can now buy any of the company’s vehicles using Bitcoin. For now, Musk said the new payment option is only available to Tesla’s US customers.
Musk’s announcement came after the company said in a filing last month that it may begin to accept Bitcoin in exchange for products. The hint came together with the announcement of Tesla’s $1.5 billion investment in Bitcoin. At the time, Bitcoin spiked in reaction to Tesla’s news andhit a record high of more than $43,000.
The price of BTC gained 2.9% to $55,630, following Tesla’s recent announcement. At press time, Bitcoin is down 2.16% to $54,065.
The electric vehicle (EV) company noted that Bitcoin received will remain in the digital asset and not be converted to fiat currency. Already, the company has listed a series of questions and answers to guide customers with making Bitcoin payments.
Tesla warned that customers should carefully copy and paste the wallet address to avoid mistakes as Bitcoin transactions cannot be reversed. The EV company said customers can also scan a QR code to make payments. Additionally, Tesla said payment confirmation would be sent through email. He, however, added that the confirmation process may take up to six hours.
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