Tesla CEO Elon Musk has confirmed that consumers can now purchase Tesla cars paying entirely in Bitcoin.
Tesla, which teased the possibility to purchase vehicles with BTC back when it invested $1.5bn in the digital gold, is finally making good on its promise, announcing the news late on Tuesday (March 23).
This means that Bitcasino.io, the gaming website which appealed to Musk's better nature to allow the casino to purchase a Tesla using BTC, will finally be able to do so. Musk delivered the news in his succinct style, tweeting that “you can now buy a Tesla with Bitcoin”.
The sales of Tesla with BTC will start in the US first but later spread across the world, Musk reassured. The company will use “internal” and “open source software” to complete transactions, as Tesla also operates Bitcoin nodes directly.
This would protect consumers from double-spending their currency. Still, it's interesting to see Tesla enabling these purchases. For one, Tesla is committed to environmentally-responsible practices. However, the Bitcoin network consumes more electricity than the entirety of Argentina.
In fact, Bitcoin emissions alone can lead to the doomsday 2 degrees Celsius warming up of the environment. Yet, this has not stopped Musk from pursuing closer ties with Bitcoin.
In fact, his investment may have been one of the smartest to date as Tesla generated more profit from its investment in Bitcoin than it did from an entire year of car sales.
It's not entirely surprising that Musk would pursue Bitcoin as an option. After all, he's trying to put people on Mars, kickstart interstellar travel, alter the way we use transport and has embarked on countless futuristic projects to date. All of this needs hard currency to back it up.
Or, in this case, it needs Bitcoin's most recent bullish run. It may just turn out that Bitcoin is the fuel that SpaceX needs to ferry people to Mars after all.