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Elon Musk Announces to start receiving Bitcoins as a medium of payment for Tesla

anyevalentine | 25.03.2021 | 0 | World

While other countries are fighting to stop the circulation of Cryptocurrency, the world’s Richest Man Elon musk embraces and promotes Bitcoins. Elon Musk Announces to start receiving Bitcoins as a medium of payment for Tesla

The US Billionaire who originates from South Africa, says his company Tesla, dealers of all brands of cars will soon start receiving bitcoins as a method of payment for his cars.

In a statement on his Twitter account, Musk said Tesla has begun receiving bitcoin payment, but it won’t be receiving other forms of cryptocurrencies. He said the bitcoin received will not be converted into paper currency. According to the founder of SpaceX, the payments will remain in the bitcoin market, adding to the $1.5 billion the automaker invested in bitcoin in February. The new payment policy is only available in the United States for now, but Musk said it would be made available to other countries later in the year.

The car Boss, went further to explain how his Bitcoin policy will operate.

“You may not make purchases with us using any other digital asset, including Bitcoin fork products, such as Bitcoin Cash and Bitcoin SV. Our Bitcoin digital wallet is not configured to detect or receive digital assets other than Bitcoin.”

This initiative of Elon came as a blow to other countries like Nigeria who recently banned the flow of Bitcoin circulation in the country. This has changed the mindset of many countries that foresaw the evil of Cryptocurrency.

Other influentials like Jay-z alongside Twitter owner jack Dorsey, this year planned of setting up a trust 500BTC investment in India and Africa. To foster development.

This set of Americans are changing the mentality of using bitcoins which is the modern way of Financial transactions without necessarily moving with physical cash.

This is not the first time Elon Musk is embarking on trips not conducive to many. In 2002, Musk founded SpaceX, an aerospace manufacturer, and space transport services company, of which he is CEO, CTO, and lead designer. Since then he has been developing space x as a second option to earth. Strange right?.

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