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You can now buy a Tesla using Bitcoin

Tech Edition

Close to the beginning of 2021, Tesla’s CEO Elon Musk sparked many a conversation by saying that consumers would soon be able to pay for their new Tesla using Bitcoin.

Musk announced on Twitter on Wednesday morning that the company now accepts the cryptocurrency, adding that “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”

When customers are finished building their ideal Tesla on the website, whether it be a Model S, Model 3, Model X or Model Y, the manufacturer’s checkout page now includes a Bitcoin button with which to make a deposit payment. (Regular options like paying with a card remains as well.) The $100 deposit converts to about 0.0018376 BTC.

Musk and Co. recently invested $1.5 billion in Bitcoin to maximize cash returns, which pushed Bitcoin up by 13% at the time. While Musk’s been outspoken about crypto in recent weeks, including the joke cryptocurrency “Dogecoin,” Tesla said in a Securities and Exchange Commission filing on its Bitcoin investment it occasionally will “hold digital assets from time to time or long-term.” No one at Tesla, including Musk, has suggested the automaker will accept any other cryptocurrency in the future.

Bitcoin stock (BTC) was up nearly 2.5% in early Wednesday trading.

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