Musk Says Teslas Can Now Be Bought Using Bitcoin That Will Be Stored, Not Turned to Fiat
The Tesla CEO said bitcoin paid to the company will stay as bitcoin and not be converted into fiat.
By embracing bitcoiners, Tesla is likely to make more sales among that crowd even if they pay in fiat. Any extra BTC the carmaker gets is gravy.
The difficulty underscores how even in a roaring bull market, crypto still struggles to gain widespread acceptance as a payment method.
Elon Musk's tweets keep sending dogecoin into the stratosphere, now with a market capitalization over $8 billion.
Tesla got the market excited briefly, but bitcoin is still in consolidation mode.
Tesla accepting bitcoin payments and running its own nodes is "massively bullish," according to one analyst.