Friday, May 20, 2022

Tesla will accept Bitcoin payments as EV maker invests $1.5B in cryptocurrency

Buy a Tesla with Bitcoin? It’s happening. Dogecoin? TBC.

Nick Miotke/Roadshow

Tesla will soon offer another way to pay for its electric cars: Bitcoin. The electric carmaker said in a Securities and Exchange Commission filing for the fiscal year ending Dec. 31 that it made a $1.5 billion investment in the cryptocurrency.

News on Tesla’s investment pushed Bitcoin’s value up nearly 13% as of this writing on Monday morning. While the automaker didn’t lay out explicit timelines for when you’ll be able to snap up a Tesla with the cryptocurrency, the policy will extend to other products from the company as well. The closest we get to a timeframe is sometime in the near future.

Tesla’s move to “hold digital assets from time to time or long-term” to maximize cash returns comes while CEO Elon Musk is all-in on Reddit’s recent move to target another coin: Dogecoin. The currency began as a joke, but last week, Musk threw his support behind it on Twitter. With just one word, “Doge,” the currency rocketed upward by more than 50%. Just to be clear, Tesla made no mention of accepting Dogecoin in the SEC filing.

Source link

MORE Articles

మంత్రివర్గ పునర్వ్యవస్థీకరణపై సీఎం జగన్ సిద్ధం.. ముహూర్తం?

ys jagan మంత్రివర్గ పునర్వ్యవస్థీకరణపై వైకాపా...

జానపద నృత్యానికి స్టెప్పులేసిన సిద్ధరామయ్య! (video)

siddaramaiah కర్ణాటక మాజీ ముఖ్యమంత్రి సిద్ధరామయ్య...

అరుణాచల్ ప్రదేశ్‌లో భూకంపం: రిక్టర్ స్కేల్‌పై 5.1గా నమోదు

earthquake అరుణాచల్ ప్రదేశ్‌లో శుక్రవారం భూకంపం...

కేంద్రం వైఖరిపై తెలంగాణ మంత్రుల మండిపాటు

తెలంగాణ ప్రజలకు కేంద్రం అధికారంలో...

Stay Connected