Elon Musk: Pay for Tesla with Bitcoins!

Another post by Elon Musk appeared on Twitter, reviving the cryptosphere

He said Tesla cars can be bought for Bitcoins, and the company has no plans to change them to fiat. The service is already available in the United States. It is planned to be connected to other countries by the end of the year.

According to the billionaire, Tesla has its own node in the Bitcoin blockchain. Transactions with BTC will be conducted through open source software.

 

 

You can check the possibility of paying with Bitcoins on the company's website. The buyer will be able to choose Bitcoins in the means to pay.

 

 

How will this affect the cryptocurrency market?

The company will keep Bitcoins in the wallet as a reserve, without transferring into dollars. What does this mean for the cryptosphere?

  • First, this is good news, and cryptocurrencies have always depended on the news background.
  • Secondly, the accumulation of cryptocurrency by such large companies is always a bullish signal for the market. In fact, this is one of the factors that now keeps the price of Bitcoin and does not allow it to collapse, as in 2018.

If we recall the bull market of 2017, there were rumors that large institutional investors were about to join the investment. However, the miracle did not happen, and the price of Bitcoin fell to a critical minimum at that time.

A couple of hundred more dollars, and mining Bitcoin would be unprofitable. What would become of the first cryptocurrency then? It's hard to say right now. Remembering that difficult time, we can safely say that Bitcoin has stronger positions.

Of course, the market is volatile as before. Bitcoin was worth 61 thousand dollars, and in a couple of hours - already $54 thousand. We need more good news to make Bitcoin more stable. Wait...

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