Tesla Inc. CEO Elon Musk has allowed company’s electric vehicles to be bought using bitcoin, according to Reuters. Musk said the bitcoin option will be availed outside the U.S later this year.
The bitcoin paid to Tesla will not be converted into conventional currency.
Tesla bought $1.5 billion of bitcoin last month and said it would soon accept it as a form of payment for cars, which sent the price of the cryptocurrency soaring.
Following Tesla’s investment in bitcoin, several companies, including Uber Technologies and Twitter Inc. hinted accepting it as a form of payment.
Last month, Musk criticized conventional cash saying when it “has negative real interest, only a fool wouldn’t look elsewhere.” Bitcoin is currently gaining. BTCUSD is up 3.17%
