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Tesla to accept Bitcoin payment for Cars

Date: 10 February 2021 Tags: Miscellaneous
  • Holders of Bitcoin may be able to cash in some of their investment in the digital currency for a brand new electric car.
  • Electric automaker Tesla said that it has invested around $1.5 billion in Bitcoin and it plans to begin accepting the digital currency as payment for its high-end vehicles soon.
  • Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services.
  • It's mostly been a store of value, like gold, with some limited merchants like Overstock accepting bitcoin for payment.It's also used by those distrustful of the banking system or criminals seeking to launder money.