Elon Musk announces that ‘now you can buy a Tesla with Bitcoin’ and the cryptocurrency rebounds

March
24, 2021

3 min read

Elon Musk delivered on what he promised a few weeks ago. In the early hours of this Wednesday, the tycoon reported on Twitter that you can already buy a Tesla vehicle with Bitcoin . The announcement appears to have sparked a rally in the cryptocurrency , reaching $ 57,000 .

The CEO of Tesla explained that the company has internal software to save the cryptocurrency without converting it into fiat currency (dollars, for example).

Tesla is using only internal & open source software & operates Bitcoin nodes directly.

Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.

– Elon Musk (@elonmusk) March 24, 2021

For now this type of payment is only available in the United States , but Elon Musk announced that by the end of the year it will be extended to other countries.

Pay by Bitcoin capability available outside US later this year

– Elon Musk (@elonmusk) March 24, 2021

Interestingly, two minutes after the 49-year-old billionaire posted his tweet, the price of Bitcoin increased by 1.3% . The cryptocurrency rose $ 736 to reach a value of $ 55,545 per unit. But there it did not stop, since in the following hours it reached around $ 57,000 .

Which Tesla can I get a Bitcoin for?

If you have a single Bitcoin in your digital wallet, you can easily buy the most accessible electric vehicle in the range.

If we take the current price of Bitcoin reported by Coinbase , one of these cryptocurrencies is equivalent to about 1,168,000 Mexican pesos .

For its part, the Tesla Model 3 has a maximum price in Mexico of 1,138,300 pesos . That is, you can exchange a Bitcoin for a Tesla, and you even have change left over!

^{Tesla Model 3 prices in Mexico as of March 24, 2021. Source: Tesla.com}

Elon Musk is a true crypto enthusiast. In early 2021, Tesla invested 1,500 in Bitcoin . In addition, the CEO of SpaceX has promoted the Dogecoin until taking it to all-time highs .