Share this article
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.
Updated Sep 14, 2021, 12:31 p.m. Published Mar 24, 2021, 9:03 a.m.
CEO Elon Musk said Tesla vehicles can now be purchased using bitcoin, increasing the company's sizable cryptocurrency holdings.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Tesla CEO said via Twitter Wednesday the bitcoin the company receives will stay as bitcoin and not be converted into fiat.
- This option will also be made available outside the U.S. later this year.
- Musk added that Tesla operates Bitcoin blockchain nodes directly using internal and open-source software.
You can now buy a Tesla with Bitcoin
— Name (@elonmusk) March 24, 2021
- The move will see Tesla add to its already sizable bitcoin holdings, which Musk revealed on Feb. 8. At the time, Tesla's trove was valued at $1.5 billion and is worth quite a bit more now.
- Musk's tweet disclosing the purchase then propelled bitcoin to an all-time high of $44,801.
- The news today will be welcomed by bitcoin investors who have seen the world's most valuable crypto tread water around the $55,000 mark in recent days.
- Musk's tweet has already given a lift to the price of bitcoin, which is currently at $56,293.57, up 3.45% in the last 24 hours.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
