Elon Musk’s electric car company Tesla (Tesla) has begun accepting Bitcoin payments. Musk’s title is now Tesla’s Technoking, and he also confirmed that “all bitcoins paid to Tesla will remain as bitcoins instead of being converted into legal tender.”

Tesla now accepts Bitcoin

Tesla has already begun accepting Bitcoin payments. Elon Musk recently changed his title from CEO of Tesla to Technoking. The Bitcoin payment option has also been added to the Tesla website, with a page explaining how to pay with cryptocurrency.

Musk further said on Twitter that “Payment in Bitcoin” will be launched outside the United States “later this year”. In addition, Tesla Technology confirmed: “The Bitcoin paid to Tesla will remain as Bitcoin and not converted into legal tender,” and pointed out that his company “only uses internal and open source software and directly operates Bitcoin notes. “

Tesla started accepting Bitcoin-Elon Musk said BTC payments will not be converted to Fiat currency

The page about payment with Bitcoin has been added to the Tesla website, and it states that “Bitcoin is the only cryptocurrency accepted by Tesla.” As for how to pay with BTC, the page details:

Start payment from your Bitcoin wallet. You can scan the QR code or copy the Bitcoin address and exact Bitcoin amount and paste it into your wallet.

Regarding how long it takes to process bitcoin payments, Tesla wrote: “Once you send bitcoins from your wallet, the page will refresh within a minute… Once the payment is received, we will send you a confirmation via email Mail. This may take up to six hours to process.”

Tesla first disclosed its plan to accept Bitcoin payments in a document filed with the U.S. Securities and Exchange Commission (SEC) last month. At that time, Tesla also informed regulators that it had purchased $1.5 billion worth of Bitcoin.

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What do you think of Tesla’s acceptance and retention of Bitcoin? Let us know in the comments section below.

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