On its website, Tesla now offers the option to check out with bitcoin.
Musk added in a second tweet that “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” This alleviates some concerns of added selling pressure, which could have sent the price of bitcoin lower.
Last month, the company made an investment of $1.5 billion into the digital currency, news that rocketed bitcoin to new all-time highs. In the days after the investment was made public, Musk said on Twitter that “Having some Bitcoin … is simply a less dumb form of liquidity than cash.”
Since the investment was made public, the price of Bitcoin has continued to climb, reaching $61,750 on March 15. According to a CBNC report, Daniel Ives, an analyst at Wedbush Securities, wrote that Tesla is “on a trajectory to make more from its Bitcoin investments than profits from selling its … cars.”
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TSLA stock price rose slightly in premarket trading. At writing, it’s up about 1.7% to $673.48. Bitcoin is hovering near $56,000, up about 3% on the day.
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