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URLhttps://www.foxbusiness.com/markets/tesla-begins-accepting-bitcoin-for-its-cars
Last Crawled2026-04-22 02:59:42 (3 days ago)
First Indexed2021-03-24 14:15:13 (5 years ago)
HTTP Status Code200
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Meta TitleTesla begins accepting bitcoin for its cars | Fox Business
Meta DescriptionTesla CEO Elon Musk said the electric-car maker now accepts bitcoin as payment for its vehicles.
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Published March 24, 2021 10:13am EDT 'Bitcoin paid to Tesla will be retained as Bitcoin' Tesla CEO Elon Musk said the electric-car maker now accepts bitcoin as payment for its vehicles. “You can now buy a Tesla with Bitcoin,” Tesla CEO Elon Musk tweeted early Wednesday. “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” The news, which was telegraphed by Musk in February, sent bitcoin up as much as 4% to $57,120 a coin. At that price, the cryptocurrency was 6.73% below its all-time closing high of $61,243 set on Mar. 12. Tesla shares rallied on the announcement before turning lower. Ticker Security Last Change Change % TSLA TESLA INC. 386.42 -6.08 -1.55% Powered By Tesla announced last month it had purchased $1.5 billion of bitcoin amid efforts to “diversify and maximize returns” on its cash. The company said it may invest its cash in more alternative assets, including digital currencies and gold bullion, in the future. At that time, Tesla also said that it would begin accepting bitcoin as payment in the near future. Bitcoin has gained wider acceptance from Corporate America over the past year as investment firms have parked more cash in the cryptocurrency. BlackRock Inc. and Morgan Stanley are among the Wall Street firms that have begun to dabble in the cryptocurrency. MicroStrategy Inc., meanwhile, has led Corporate America’s charge into bitcoin, which has also been joined by digital-payment company Square Inc. Microstrategy has plowed $2.171 billion cash into the cryptocurrency to purchase 90,531 bitcoins as of Feb. 24. The company’s CEO, Michael Saylor, was instrumental in Musk’s decision to invest Tesla’s cash in the digital currency. “If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC,” he tweeted in December. ”Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.”
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At that price, the cryptocurrency was 6.73% below its all-time closing high of \$61,243 set on Mar. 12. Tesla shares rallied on the announcement before turning lower. | Ticker | Security | Last | Change | Change % | |---|---|---|---|---| | [TSLA](https://www.foxbusiness.com/quote?stockTicker=TSLA) | TESLA INC. | 386\.42 | \-6.08 | \-1.55% | | Powered By | | | | | Tesla announced last month it had purchased \$1.5 billion of bitcoin amid efforts to “diversify and maximize returns” on its cash. The company said it may invest its cash in more alternative assets, including digital currencies and gold bullion, in the future. At that time, Tesla also said that it would begin accepting bitcoin as payment in the near future. Bitcoin has gained wider acceptance from Corporate America over the past year as investment firms have parked more cash in the cryptocurrency. BlackRock Inc. and Morgan Stanley are among the Wall Street firms that have begun to dabble in the cryptocurrency. MicroStrategy Inc., meanwhile, has led Corporate America’s charge into bitcoin, which has also been joined by digital-payment company Square Inc. Microstrategy has plowed \$2.171 billion cash into the cryptocurrency to purchase 90,531 bitcoins as of Feb. 24. The company’s CEO, Michael Saylor, was instrumental in Musk’s decision to invest Tesla’s cash in the digital currency. “If you want to do your shareholders a \$100 billion favor, convert the \$TSLA balance sheet from USD to \#BTC,” he tweeted in December. ”Other firms on the S\&P 500 would follow your lead & in time it would grow to become a \$1 trillion favor.” ## Market Futures DOW JONES FUTURES (I:DJI) 49,580.00 \+241.00 (+0.49%) NASDAQ FUTURES (I:COMPX) 26,817.75 \+183.00 (+0.68%) S\&P 500 FUTURES (INX) 7,139.50 \+39.50 (+0.55%) Market Update sponsored by Advertisement Advertisement Advertisement ![Fox News First](https://static.foxnews.com/foxnews.com/content/uploads/2023/09/532x120-NEWSLETTER_BIZ-Rundown.png) Arrives Weekly Get Our Newsletter Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you. We've added you to our mailing list. 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Readable Markdown
**Published** March 24, 2021 10:13am EDT ## 'Bitcoin paid to Tesla will be retained as Bitcoin' [Tesla](http://foxbusiness.com/category/tesla) CEO [Elon Musk](http://foxbusiness.com/category/elon-musk) said the electric-car maker now accepts bitcoin as payment for its vehicles. “You can now buy a Tesla with Bitcoin,” Tesla CEO Elon Musk tweeted early Wednesday. “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” The news, which was telegraphed by Musk in February, sent bitcoin up as much as 4% to \$57,120 a coin. At that price, the cryptocurrency was 6.73% below its all-time closing high of \$61,243 set on Mar. 12. Tesla shares rallied on the announcement before turning lower. | Ticker | Security | Last | Change | Change % | |---|---|---|---|---| | [TSLA](https://www.foxbusiness.com/quote?stockTicker=TSLA) | TESLA INC. | 386\.42 | \-6.08 | \-1.55% | | Powered By | | | | | Tesla announced last month it had purchased \$1.5 billion of bitcoin amid efforts to “diversify and maximize returns” on its cash. The company said it may invest its cash in more alternative assets, including digital currencies and gold bullion, in the future. At that time, Tesla also said that it would begin accepting bitcoin as payment in the near future. Bitcoin has gained wider acceptance from Corporate America over the past year as investment firms have parked more cash in the cryptocurrency. BlackRock Inc. and Morgan Stanley are among the Wall Street firms that have begun to dabble in the cryptocurrency. MicroStrategy Inc., meanwhile, has led Corporate America’s charge into bitcoin, which has also been joined by digital-payment company Square Inc. Microstrategy has plowed \$2.171 billion cash into the cryptocurrency to purchase 90,531 bitcoins as of Feb. 24. The company’s CEO, Michael Saylor, was instrumental in Musk’s decision to invest Tesla’s cash in the digital currency. “If you want to do your shareholders a \$100 billion favor, convert the \$TSLA balance sheet from USD to \#BTC,” he tweeted in December. ”Other firms on the S\&P 500 would follow your lead & in time it would grow to become a \$1 trillion favor.”
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Content Metadata
Languageen-us
AuthorJonathan Garber
Publish Time2021-03-24 14:00:28 (5 years ago)
Original Publish Time2021-03-24 14:00:28 (5 years ago)
RepublishedNo
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