• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Tuesday, July 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
4 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

Deaconess Oborevwori distributes another round of food items under RHI to 400 households in Delta
Economy

Deaconess Oborevwori distributes another round of food items under RHI to 400 households in Delta

June 25, 2025
‘Tehran will shake’, says Israeli Finance Minister as Iran reportedly breaks ceasefire
World News

‘Tehran will shake’, says Israeli Finance Minister as Iran reportedly breaks ceasefire

June 24, 2025
Obi of Issele-Mkpitime commends Senator Ned Nwoko for ongoing community projects
Economy

Obi of Issele-Mkpitime commends Senator Ned Nwoko for ongoing community projects

June 8, 2025
Okumagba congratulates Oborevwori on 2nd anniversary, says Governor has been impactful
Economy

Okumagba congratulates Oborevwori on 2nd anniversary, says Governor has been impactful

May 29, 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

Senator Nwoko, his wife, Regina Daniels get accolades from stakeholders for commitment to development of Nigeria’s film industry

Senator Nwoko, his wife, Regina Daniels get accolades from stakeholders for commitment to development of Nigeria’s film industry

June 30, 2025
Auto Draft

Waive pays homage to Udu monarch, pledges total allegiance

June 30, 2025
Delta Speaker calls for stakeholders’ commitment to advancing Nigeria as 10th Benue Assembly holds 2nd Anniversary Thanksgiving Service

Delta Speaker calls for stakeholders’ commitment to advancing Nigeria as 10th Benue Assembly holds 2nd Anniversary Thanksgiving Service

June 30, 2025
Senator Ned Nwoko Felicitates Dein of Agbor on 48th Birthday

Senator Ned Nwoko Felicitates Dein of Agbor on 48th Birthday

June 30, 2025
Okubor misrepresented facts on Delta North Senatorial meeting hosted by Senator Nwoko, says Eboh

Okubor misrepresented facts on Delta North Senatorial meeting hosted by Senator Nwoko, says Eboh

June 28, 2025

TRENDING STORIES

  • Abel Ideh: Don’t Meddle In Our Internal Affairs, DELSU-ASUU Warns DTHA

    Abel Ideh: Don’t Meddle In Our Internal Affairs, DELSU-ASUU Warns DTHA

    0 shares
    Share 0 Tweet 0
  • Tinubu, Jonathan, Akpabio, Others Set for Chief Wellington Okirika Biography Launch on June 26

    0 shares
    Share 0 Tweet 0
  • Delta: Native Doctor Arrested for Concealing Firearms in Ceiling

    0 shares
    Share 0 Tweet 0
  • S’Court Dismisses Second Attempt At Appeal By Dieyi Family In Ogwashi-Uku Royal Dispute

    0 shares
    Share 0 Tweet 0
  • ‘Tehran will shake’, says Israeli Finance Minister as Iran reportedly breaks ceasefire

    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.