may be able to cash in some of their investment in the digital currency for a brand new electric car.and it plans to begin accepting the digital currency as payment for its high-end vehicles soon. The price of Bitcoin soared 15.4% to around $44,500 Monday in reaction to Tesla's announcement, according to CoinBase.
Whether other major companies will follow Tesla's lead in investing in Bitcoin or accepting it for transactions is unclear. A vehicle is a large purchase, which could make Bitcoin a better fit to pay for it, but the wild price swings in Bitcoin could be a significant risk to any merchant who decided to accept it.
Tesla is in a unique position to accept digital currencies for payment, since the automaker does not rely on a network of independently owned dealerships to sell its vehicles unlike traditional car companies such as General Motors and Ford. Even with Tesla's support, it could take some time before those who've made money investing in Bitcoin to use it to buy a car.
“I think the trend is inexorable,” said Richard Lyons, a finance professor at the University of California at Berkeley, predicting Bitcoin and other digital currencies"will become transactional currencies increasingly over the next five years. It’s not going to happen overnight.”
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KennethHowardC3 adokva- it was originally conceived
Do you also take dogecoin elonmusk
And he never fibs!
Bitcoin: the Official Currency of Mars™️
I do not have the impression people with enough Bitcoin to buy a Tesla are willing to part with them.
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You'd think that the way Elon was tweeting, it would be dogecoin
Interesting
Sounds like a pump n dump
A fraudster.
I like what you think but disable coin ain't going nowhere you got the right one ,doge coin isn't going to make it is drowning sucking up people money that's it.
That’s something rich people have to deal with so it won’t do us no good to no that.
Good. I couldnt buy a Tesla before. Now neither a Bitcoin
☝🏼 Tesla can you also invest $33K in me to pay off my student loans. CashApp $KZ820. Please and thank you (I hear those are the magic words 😊).
So he is a Billion Bit Man I an a Two Bit Man 😢
One one hand, this could help people avoid taxes on purchases. On the other, the government will want to crack down hard on Bitcoin.
How much is that in Monopoly money? I have Monopoly Money 😳
pyramidscheme
Good Lucky is Taking the Asian market by Bitcoin
The day ain’t far when Bitcoin bubble will burst.
Good. I have a lot of Bitcoin saved up in a jar downstairs.