• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, October 1, 2025
No Result
View All Result
NewsNet Nigeria
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos
NewsNet Nigeria
No Result
View All Result
Home Economy

Cryptocurrency: You can now use bitcoin to buy a Tesla

by NewsNet Nigeria
5 years ago
in Economy, World News
Cryptocurrency: You can now use bitcoin to buy a Tesla
Share on FacebookShare on TwitterShare on LinkedinShare on Whatsapp

Bitcoin fans looking for ways to spend their cryptocurrency fortunes can add a big ticket item to the list: a Tesla.

“You can now buy a Tesla with Bitcoin,” CEO Elon Musk said in a tweet on Wednesday.

Bitcoin paid to Tesla (TSLA) will not be converted by the electric car company into regular currency, he added in a subsequent tweet. Musk said that the option to pay by bitcoin will be available outside the United States later this year.

The price of a single bitcoin climbed nearly 3% to hit $56,242 shortly after Musk’s tweet — more than enough to buy an entry level Tesla Model 3, which costs just under $40,000. Tesla’s most expensive vehicle, the Model X Plaid, starts at around $120,000 — slightly more than two bitcoin.

Dan Ives, an analyst at Wedbush Securities, said “this is a seminal moment for Tesla and for the crypto world.”
“We expect less than 5% of transactions to be through Bitcoin over the next 12 to 18 months however this could move higher over time as crypto acceptance starts to ramp over the coming years,” he added.

Tesla (TSLA) had previously signalled its plans to accept digital currency from buyers. In its annual filing with the Securities and Exchange Commission (SEC) last month, the company said that it expects “to begin accepting bitcoin as a form of payment for our products in the near future … initially on a limited basis.”

It also said it had invested $1.5 billion in bitcoin as part of a strategy to “invest a portion of [the company’s] cash in certain specified alternative reserve assets.”

Since then, the company has given Zach Kirkhorn, its chief financial officer, a new title: “Master of Coin.” Musk, meanwhile, gained the extra title of “Technoking of Tesla”, according to a SEC filing.

Musk, who has in the past expressed scepticism about cryptocurrencies, said in an interview on social app Clubhouse earlier this year that he thinks bitcoin is on the verge of “getting broad acceptance by conventional finance people.” He said he should have bought the digital currency eight years ago.

Source/Author: CNN

Previous Post

Okowa speaks on returned £4.2million by UK govt, says protest letter written to Buhari

Next Post

Burial of elder sister to ex-Delta Commissioner, Princess M. D. Ikolo, holds April 9

MORE NEWS

FG Declares Friday, September 5, Public Holiday for Eid-ul-Mawlid
Celebration

The Worst Is Over, Nigeria on Path to Recovery, Says Tinubu at 65th Independence Anniversary

October 1, 2025
Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary
Celebration

Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary

October 1, 2025
Senator Nwoko Urges Ohaneze’s Sustained Backing for Creation of Anioma State
Celebration

Senator Nwoko Urges Ohaneze’s Sustained Backing for Creation of Anioma State

September 30, 2025
Delta North Monarch Affirms Anioma Are Igbos, Backs Nwoko’s Push for Statehood
Economy

Delta North Monarch Affirms Anioma Are Igbos, Backs Nwoko’s Push for Statehood

September 24, 2025
Next Post
Burial of elder sister to ex-Delta Commissioner, Princess M. D. Ikolo, holds April 9

Burial of elder sister to ex-Delta Commissioner, Princess M. D. Ikolo, holds April 9

Leave Comment

RECENT STORIES

Fred Majemite Felicitates Nigerians at 65, Calls for Renewed Patriotism, Urges Leaders to Prioritise Good Governance

Fred Majemite Felicitates Nigerians at 65, Calls for Renewed Patriotism, Urges Leaders to Prioritise Good Governance

October 1, 2025
FG Declares Friday, September 5, Public Holiday for Eid-ul-Mawlid

The Worst Is Over, Nigeria on Path to Recovery, Says Tinubu at 65th Independence Anniversary

October 1, 2025
Nigeria at 65: Senator Dafinone Urges Renewed Hope, Commitment to National Unity

Nigeria at 65: Senator Dafinone Urges Renewed Hope, Commitment to National Unity

October 1, 2025
Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary

Delta Speaker Guwor Urges Collective Action for a Greater Nigeria at 65th Independence Anniversary

October 1, 2025
I am not senator for only APC members – Joel-Onowakpo

Constituents Express Concern Over Senator Joel-Onowakpo’s Perceived Silence in Senate

September 30, 2025

TRENDING STORIES

  • Ibru Organisation Chairman, Olorogun Oscar Ibru, Dies at 67

    Ibru Organisation Chairman, Olorogun Oscar Ibru, Dies at 67

    0 shares
    Share 0 Tweet 0
  • FIFA Strips South Africa of Win Over Lesotho for Fielding Ineligible Player

    0 shares
    Share 0 Tweet 0
  • Delta Police Begin Enforcement on Tinted Glass, Siren, Number Plate Regulations October 2

    0 shares
    Share 0 Tweet 0
  • Uroye Calls for Calm, Dialogue as Tension Heightens Over Killing of Jerry, Consoles Family

    0 shares
    Share 0 Tweet 0
  • At 70, I Owe All Life Has Given Me to God – Chief Ejovi

    0 shares
    Share 0 Tweet 0
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.

No Result
View All Result
  • Home
  • News
    • Local News
    • National
  • Politics
  • Economy
    • Oil and Gas
  • Crime
  • Education
  • Health
  • Entertainment
    • Lifestyle
  • Sports
  • MORE
    • Interview
    • Editorial
    • Opinion
    • Columns
    • Science & Tech
    • Videos

NEWSNET NIGERIA Published By: Morex Consult Limited - Since 2020.