Tesla buys $1.5 billion value of Bitcoin | might add Bitcoin as a mode of payment.

February 8, 2021

According to reports and a Securities and Exchange Commission filing, electric car maker Tesla has purchased 1.5 Billion dollar worth of Bitcoin, and would possibly even settle for Bicoin as payment for its vehicles sooner or later in the future.

The SEC filing, disclosed that Tesla has purchased $1.5 billion worth of Bitcoin, pushing its worth to over $40,000 in the course of it.

Before Tesla accepts Bitcoin as payment for its cars, it would need to determine process of payments, maintain the digital cash, and price its cars considering the acute volatility of the bitcoin.

In the filing Tesla mentioned that it

“expect[s] to begin accepting bitcoin as a form of payment for [its] products in the near future, subject to applicable laws and initially on a limited basis, which [it] may or may not liquidate upon receipt.”