Many believe that bitcoin is a valuable commodity, based on the prices. But when it comes to spending your bitcoin, it can be challenging. It’s not like you can walk into your local supermarket and pay for groceries using it.
But, if you have some spare bitcoin lying around, Tesla will now accept it. In a tweet from Tesla’s CEO Elon Musk, it was announced that the company will now be accepting payment in bitcoin. Right now, this is only available in the US, but Musk says that they do eventually plan on bringing it to other countries as well.
He also says that Tesla will be accepting bitcoin and keeping it as it is instead of converting it to regular currency. This means that Musk seems to be betting on the future that bitcoin’s value will rise and make whatever bitcoin the company is holding on to even more valuable.
If one bitcoin is worth $10,000 and you purchase something that costs one bitcoin, and in the future, its value goes up to $15,000, you are losing out. The reverse is also true if the value drops, so the seller could lose money because bitcoin is now valued less. It is a risk Musk is willing to take.
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