Bitcoin News Live: Latest Updates As Elon Musk Says Tesla Sells Cars For Cryptocurrency

Bitcoin News Live: Latest Updates As Elon Musk Says Tesla Sells Cars For Cryptocurrency

Elon Musk announced that customers will be able to purchase a Tesla car using Bitcoin.

In a series of tweets, the Tesla boss revealed that the electric car maker will keep money received from customers in the form of bitcoin, rather than storing it in a traditional currency like the dollar.

“Tesla only uses internal and open source software and directly operates Bitcoin nodes. Bitcoin paid to Tesla will be kept as Bitcoin, not converted into fiat currency, ”he said. in other tweet. “Bitcoin payment functionality is available outside of the United States later this year.”
However, this news comes amid warnings that Bitcoin’s record run will likely end in a massive crash – although no one knows when. Bobby Lee, founder of the BTCC cryptocurrency exchange, predicted that the cryptocurrency would lose 90% of its value, causing it to stagnate in a “crypto winter” that could last for years.


It’s been a few hours now since Elon Musk announced that Tesla would accept bitcoin payments, so how has the market reacted?
The cryptocurrency surged $ 2,500 immediately after Musk’s tweet, which is about a 5% jump.
When the Tesla boss first announced his intention to introduce bitcoin payments last month, the price ultimately rose 17% in the space of a day, so further gains could be In progress.

Anthony Cuthbertson24 mars 2021 10:32

The price of Bitcoin has risen more than 1,000% since last March and market analysts believe it could continue to rise – at least in the short term.
The cryptocurrency is currently trading at around $ 56,000, with price predictions generally ranging between $ 100,000 and $ 300,000 by the end of the year.
What comes after bitcoin’s record price hike is speculation, although industry insider Bobby Lee said this week he believes he could lose as much as 90% of its value and enter the market. a “crypto winter”.
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Anthony Cuthbertson24 mars 2021 10:13

In the wee hours of the morning on the east coast, and in the middle of the night for the west, Tesla CEO Elon Musk announced that payments for electric vehicles can now be taken in bitcoin.
In February, Tesla announced that it had invested $ 1.5 billion in cryptocurrency. The company said it “will begin accepting bitcoin as a method of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”

Adam Smith24 mars 2021 09:30


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