Sunday, September 19, 2021

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.



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