Earlier this year, Tesla announced that it would soon be possible to buy its vehicles in bitcoins (BTC). Something promised, something due. As of now, the firm’s American customers can afford a Tesla using this increasingly popular cryptocurrency.
“Yes, you can now buy a Tesla in bitcoins”
It was Elon Musk himself who announced it on his Twitter account, this Wednesday February 24, 2021: “Yes, you can now buy a Tesla in bitcoins”. The CEO of the company explains in another tweet that this option is nevertheless only available in the United States for the moment, but that it should be rolled out to other countries this year.
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He concludes by specifying that “Bitcoins paid to Tesla will be kept as bitcoins, and not converted into fiat currency”. More clearly, the bitcoins cashed in will not be converted into dollars, as most merchants and companies already accepting this cryptocurrency do currently.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
On the Tesla site, we learn more. The automaker specifies, for example, that interested buyers will have to pay the bitcoin equivalent of the amount displayed in dollars, and that they will have a limited time (only 30 minutes) to make their payment. A condition that can be explained simply. The price of BTC being fluctuating, it is possible that beyond this allotted time, the value of the currency can come to change, and consequently, the value to be paid too.
How much is a Tesla worth in bitcoins?
Of course, the price of a Tesla in bitcoins depends on the model chosen, but also on the price of BTC. As of this writing, one bitcoin is equivalent to 47 895,50 euros. Last year, to the day, a bitcoin was “barely” worth 6 264,16 euros.
Based on the current price, it would thus be necessary 0,91 bitcoin to buy a Model 3 Standard Plus range (€ 43,800), 1.46 bitcoin to acquire a Model Y Performance (€ 70,000), or even 2.50 bitcoins to afford the Model X Plaid (€ 119,990).
However, and as we pointed out previously, these figures can come to evolve according to the price of the cryptocurrency. For JP Morgan, the price of bitcoin could even reach up to $ 146,000 in the more or less near future. A particularly ambitious projection, which should not be taken for granted since the value of this cryptocurrency could just as well come to fall sharply, as has already been the case in the past.