Cryptocurrency
Elon Musk Provides Some Propulsion For Bitcoin Price Action
Elon Musk Provides Some Propulsion For Bitcoin Price Action As reported by Market Insider, “Bitcoin rose 5% after Elon Musk said a Tesla car can now be purchased using the world’s most popular cryptocurrency. The “Technoking” said in a tweet early Wednesday the EV-maker has added bitcoin as a payment option. The choice is currently […]
Elon Musk Provides Some Propulsion For Bitcoin Price Action
As reported by Market Insider, “Bitcoin rose 5% after Elon Musk said a Tesla car can now be purchased using the world’s most popular cryptocurrency. The “Technoking” said in a tweet early Wednesday the EV-maker has added bitcoin as a payment option. The choice is currently available to customers in the US, but will be made available elsewhere later this year, Musk said.
Tesla is using only internal & open source software & operates Bitcoin nodes directly,” he said. “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”
Musk published his tweet soon after Twitter users noticed the updated bitcoin support for all models of Tesla’s cars across online US stores. “Elon,” “Tesla,” and “#Bitcoin,” quickly became trending hashtags on the social media platform.
The price of bitcoin rose 4.7% to $56,360 around 4:20 a.m. ET. It is up 90% year-to-date and more than 800% in the last 12 months.