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Customers Can Now Use Bitcoin To Buy Tesla Cars, Says Elon Musk

Customers Can Now Use Bitcoin To Buy Tesla Cars, Says Elon Musk
After having indicated a couple of months ago about allowing customers to pay for its cars in crypto currencies and itself purchasing bitcoin worth $1.5 billion, the United States based electric car maker Tesla announced on Wednesday that the company’s customers can now actually use the number 1 crypto currency of the world to pay for purchasing the company’s electric vehicles.
The company’s chief executive Elon Musk said that this facility will for only be available for customers outside the United States and will start sometime within this year.
"You can now buy a Tesla with bitcoin," he tweeted on Wednesday and added that the company will not convert the bitcoin that would be paid to it into conventional currencies.
The announcement last month by the company of purchasing and accepting bitcoin had pushed the price of the most valuable crypto currency of the world to record highs.
Musk is a known support to crypto currencies and has used his Twitter account to pledge for them. While praising crypto currencies, Musk also criticised conventional cash last month by saying that it “has negative real interest, only a fool wouldn’t look elsewhere.”
The difference that crypto currencies have with cash makes it “adventurous enough” for the S&P 500 company Tesla to hold on to the crypto currency bitcoin, he said.
Following the purchase of bitcoin worth $1.5 billion last month by Tesla, other tech companies including Uber Technologies Inc and Twitter Inc had also expressed their minds about what they thought of crypto currencies.
The idea of investing in bitcoin was discussed within the company and was “quickly dismissed”, said the Chief Executive of the United States based ride hailing company Uber. However he did say that botcoin could be accepted by the company as payment for its services.
On an earlier occasion, the social media company Twitter had said that it was undecided about investing in bitcoin while the auto giant General Motors Co had said that an evaluation of whether bitcoin could be accepted as a mode of payment form customers for its vehicles will be done by the company.
Tesla recently added “Technoking of Tesla” to Musk’s list of official titles.

Christopher J. Mitchell

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