Elon Musk, Tesla CEO, announced via a tweet that the company was now accepting Bitcoin as a payment method for its products, doubling down on the investment of $1.5 billion back in February of 2020.
Musk has been a vocal supporter of cryptocurrency in the past, usually driving spikes in BTC and DOGE valuations after tweeting positively about them, and the company he directs started one of the biggest bull runs in recent months when its Security and Exchange (SEC) commission filing went public.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
The SEC filing stated Tesla’s interest in accepting BTC ad a form of payment, “in the near future”, as well as the company’s use of cryptocurrency in the form of an, “alternative reserve assets to provide flexibility in investments.”
Now, the company’s CEO and founder has announced the much-anticipated news while also adding that Tesla is operating Bitcoin nodes directly and using, “internal & open-source software.”
The tweet also stated that Tesla will not be converting Bitcoin to fiat but retaining it as cryptocurrency.
Tesla’s decision to keep the BTC received as payment for its products and running its own nodes is a testament to its trust in the cryptocurrency’s recent success, which the market reflected as BTC’s value increased by about 3% after Musk’s tweet.
Goldman Sachs Applies for Bitcoin Exchange-traded Fund
Goldman Sachs, one of the world’s biggest financial institutions, file an application with the Securities and Exchange Commission (SEC) on March 19th to launch a new investment product designed to grant its clients access to BTC investment.
This investment would not be direct, as the filing states that,
“The ETF may have exposure to cryptocurrency, such as bitcoin, indirectly through an investment in a grantor trust. The ETF’s exposure to cryptocurrency may change over time and, accordingly, such exposure may not always be represented in the ETF’s…