Tesla Inc expects to allow customers to pay for its electric vehicles with bitcoin soon, the automaker said on Monday, a move that could expand how the most popular cryptocurrency is used for real-world transactions.
The company made the disclosures in a section of its quarterly securities filing that also detailed its purchase of US$1.5 billion worth of bitcoin. If customers buy Teslas with bitcoin, the company may or may not liquidate those payments right away - which some experts read as an indication that Tesla might hold on to at least some of the coins and not sell them automatically.
Borda, chief executive of cryptocurrency software company TokenSoft, said he regrets the purchase, because of how bitcoin values have soared. When Borda bought the car, each bitcoin was worth about US$400. As of Monday, however, it was worth over US$44,000. That means the US$130,000 spent on the vehicle would be worth more than US$14 million in bitcoin today."I recommend against purchasing big-ticket items with Bitcoin," he said.
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