Tesla on Wednesday became the first major automaker to officially start accepting bitcoins as a payment in exchange for its products.
Over a month ago, Tesla invested $1.5 billion in Bitcoins and had announced that it will start accepting Bitcoin as payment.
Tesla chief executive officer Elon Musk made the announcement in a series of tweets earlier in the day.
“You can now buy a Tesla with Bitcoin,” Musk said in a tweet, adding that the facility to make payment via bitcoins will be available outside the US later this year.
“Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency,” he added.
Tesla customers will have the option of either scanning a QR code or copying and pasting its bitcoin wallet address to initiate the payment.
Even after this development, the automaker will continue to use Tesla’s Bitcoin payment terms and conditions, its vehicles will continue to be priced in US dollars, reports said.
As per Coingeco, Bitcoin is currently trading at $56,714.96, up by 3.7 per cent, which means that people buying an entry-level Tesla will have to pay a little less than one Bitcoin.
Tesla Car prices
The entry-level Model 3 Standard Range Plus starts from $37,990. The Dual Motor All-Wheel Drive’s Long Range starts at $39,190, and the top-of-the-line Performance begins at $48,190.
The Model Y Long-range is priced at $42,190 and the higher Performance version at $53,190.
Similarly, the Model S Long-range purchase price starts from $79,990. On the other hand, its other two variants, Plaid begins from $119,990 and Plaid+ starts from $149,990.
Tesla Model X only comes in two versions i.e. Long-range (Dual Motor All-Wheel Drive) and Plaid (Tri-Motor All-Wheel Drive) priced at $89,990 and $119,990 respectively.