And in Tweet Later, Musk said: The bitcoin paid to Tesla is kept as Bitcoin, and will not be converted into fiat currency.
Musk pointed out that the company uses internal open source programs and directly operates Bitcoin nodes, which are computers over the Bitcoin network that verify transactions and avoid spending the cryptocurrency twice.
And thehe added That the ability to pay with Bitcoin will be available outside the United States later this year, without specifying the countries.
According to Support pagePayment is made in cryptocurrency through your wallet, either by scanning the QR code or by copying and pasting the Bitcoin address and the amount into your wallet.
The company’s electric cars typically cost between $ 37,990 and $ 124,000 before taxes.
Tesla wants to send the specified amount of Bitcoin in one go, or your order may be canceled, and Tesla accepts only Bitcoin and does not accept any other cryptocurrencies.
After sending the currency from your wallet, the page refreshes within one minute, and if it is not updated, do not send a new payment, as the company sends you a confirmation email after receiving the payment, and this may take up to six hours to process.
Tesla entered Bitcoin in a big way last month, buying $ 1.5 billion to diversify and increase its investments.
This decision was met with some surprise, given the currency’s volatility and the fact that the amount represents a significant portion of Tesla’s money.
The company also warned investors about potential malicious attacks and technological obsolescence not found in fiat currencies.
Bitcoin is now priced at $ 56,500, and while Tesla has never confirmed what it paid, it is likely between $ 30,000 and $ 35,000.
Tesla’s image as a green car company contrasts with the massive carbon footprint of the Bitcoin network, and researchers at Cambridge University found that it uses more electricity on an annual basis than the whole of Argentina.
And a 2018 research paper published in Nature, arguably the world’s most well-known academic journal, found that Bitcoin emissions alone could drive global warming above 2 ° C.
Tesla’s stock price has seen huge gains over the past 12 months, as Tesla shares rose from around $ 100 to over $ 600, however, some investors are convinced that Tesla is in the bubble area.
Tesla’s market value rose to more than $ 800 billion in the 12 months leading up to January, before dropping to less than $ 600 billion in February, and is now around $ 635 billion.