Tesla now accepts Bitcoin

[FinneysTrueVision]

Elon Musk just announced that you can now buy a Tesla with Bitcoin. He also says that they will not convert the BTC to fiat.

[cryptomaniac_xxx]

Yeah, I just saw his tweet, this is welcoming news for bitcoin holders, that is if they wanted to get a Tesla model or Lambo,  . And Musk confirms that they are going to hold the BTC if someone buy from them. Could this fuel another rally to $60k or more? Let's see how it goes.

[Kong Hey Pakboy]

Be ready everyone because bitcoin is going to go up again with this Elon's tweet and with some influencers that are going to buy their Tesla with bitcoin, I might be wrong about my speculation but Elon's tweet can really do something with the prices of bitcoin. This will also be a good way for Tesla to accumulate more bitcoin which is going to get the prices of bitcoin to go up again, the problem is that they might sell a lot of bitcoin if a lot of Tesla is going to be bought this way because they still have to pay the car manufacturers and the raw material providers.

[NeuroticFish]

It's a normal direction. Let's see:
+ Publicity for Tesla
+ Publicity for Bitcoin
+ Tesla gets Bitcoin at "buy" price instead of the "sell" price and also "get rid" of the cars
- Bitcoin price will rise and maybe they would have liked to buy some more first

All in all, I may afford at some point to pay 0.1BTC for a Tesla car. I know, I'll have to wait a little more for the price to rise.

[PointHope]

   Crazy good news.
This was expected after Tesla buying up $1.5 billion BTC.

I reserve ordered 4 CyberturdTrucks last year.
Mainly because I reckon the FSD feature will be worth more that the truck itself.

If (likely) Bitcoin hits $500k this year, the trucks wont even set me back 1 btc.

An UK acquaintance of mine sold his 5 btc in 2017 to buy a Lexus petrol-guzzler. (Which he cannot even give away today)

BTW Tesla is buying land in the UK for another Gigafactory...

The only two assets to have today; BTC and Tesla

Elon Musk's safe word: "Bitcoin".

[Kittygalore]

It's a normal direction. Let's see:
+ Publicity for Tesla
+ Publicity for Bitcoin
+ Tesla gets Bitcoin at "buy" price instead of the "sell" price and also "get rid" of the cars
- Bitcoin price will rise and maybe they would have liked to buy some more first

All in all, I may afford at some point to pay 0.1BTC for a Tesla car. I know, I'll have to wait a little more for the price to rise.

That is the dream, a 0.1 btc for a Tesla car, but that will take a long time because AFAIK the price of a Tesla car is a bit expensive and if I estimate around 5 digit prices which means that bitcoin price has to be around 6 or 7 digit in USD before we can guarantee a 0.1 btc Tesla. To everyone who is planning to buy, this might be a sign for you to buy bitcoin now that the prices are not at the 60k USD price point.

[dkbit98]

It was inevitable to happen sooner or later, and we are going to see everyone who invested in Bitcoin, like Elon Musk, working hard to speed up Bitcoin mainstream adoption.
Tesla is accepting payment in Bitcoin only in United States for now but Pay but this option will be available to other countries outside US later this year.
Buying a car like Tesla without middleman sounds amazing.
 

[lovesmayfamilis]

It remains only to watch the growth of bitcoin. The Elon Effect will definitely push the price of bitcoin upwards, especially as Musk said in a note that the bitcoins received will not be converted to fiat. This is another bitcoin ad. I would like to believe that such advertisements will increase, and someday the time will come for the full adoption of Bitcoin everywhere.

[DdmrDdmr]

The Tesla US site theoretically already displays the bitcoin option to make the purchase:

Although trying to get the same results on the US based website, and even setting the VPN to a US city, I currently cannot see the bitcoin payment option, even on the same model of car. Perhaps they’re still making adjustments, or I missed something.

In any case, it’s one of the most currently important show cases for bitcoin in the B2C area, and even more so under the prism of direct payments with no gateway platform involved.

see: https://www.bloomberg.com/news/articles/2021-03-24/you-can-now-buy-a-tesla-with-bitcoin-elon-musk-says

[dihari]

Bitcoin is changing the whole world. Now with his influence as a top business man, Elon Musk and Tesla makes people considering to at least trying to buy and hold bitcoin. Elon makes bitcoin become mainstream time to time. Those unknown people will educate them self with bitcoin and crypto. Thank you, Elon.

[BlackHatCoiner]

Elon Musk just announced that you can now buy a Tesla with Bitcoin. He also says that they will not convert the BTC to fiat.

What about the law? You don't just give 0.1 BTC and receive a car, there are taxations you'll have to pay to the government. A car isn't a product that you buy in the local market, there are laws that must be enforced. I doubt that you can buy an electric car by only sending some bitcoins. I have never bought a tesla, I'm just saying.

I guess that's the reason why this is available on US only at the moment.

[Rikafip]

Elon Musk just announced that you can now buy a Tesla with Bitcoin. He also says that they will not convert the BTC to fiat.

What about the law? You don't just give 0.1 BTC and receive a car, there are taxations you'll have to pay to the government. A car isn't a product that you buy in the local market, there are laws that must be enforced. I doubt that you can buy an electric car by only sending some bitcoins. I have never bought a tesla, I'm just saying.

Elon indeed said that "Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency" meaning that he will probably cover the purchase with fiat money so it's all by the book. Theoretically you can accept anything as long as you have enough cash to cover that and I guess that;s what Tesla will do. Keep stocking up on BTC, which is awesome from price point of view!

This is extremely bullish news and it is almost  unbelievable what bitcoin managed to achieve in only ~10 years and an answer to all those that claim bitcoin ain't the real money, if there are any of those left. 

[lifeforcepools]

But this is absolutely the right decision and I think many people will be interested in this.

[o_e_l_e_o]

What about the law? You don't just give 0.1 BTC and receive a car, there are taxations you'll have to pay to the government. A car isn't a product that you buy in the local market, there are laws that must be enforced. I doubt that you can buy an electric car by only sending some bitcoins. I have never bought a tesla, I'm just saying.

Elon indeed said that "Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency" meaning that he will probably cover the purchase with fiat money so it's all by the book.

The individual buying the Tesla will still be subject to the usual taxation laws, however. The IRS guidance on cryptocurrency taxes is available here: https://www.irs.gov/irb/2014-16_IRB#NOT-2014-21. Notably question 6. If you exchange your cryptocurrency for any other property (in this case, a Tesla), then you must calculate the fair market value in USD at the time of the exchange and compare that against the adjusted basis of the cost of your cryptocurrency. Essentially, if the bitcoin you spend on a Tesla are worth more in USD than when you acquired them, then you have a taxable gain as far as the IRS are concerned.

Tesla will obviously be keeping full customer records and reporting all income to the IRS.

[NeuroticFish]

What about the law? You don't just give 0.1 BTC and receive a car, there are taxations you'll have to pay to the government.

You will probably pay tax for profit/income/whatever for the 0.1 BTC you "sell".
Tesla will probably act like they buy from you the 0.1 BTC and sell you the car, hence their income tax, the VAT, the customs will be paid like it would be fiat, since government needs fiat.
This would be imho the logical approach.

[pooya87]

It's a normal direction. Let's see:
+ Publicity for Tesla
+ Publicity for Bitcoin
+ Tesla gets Bitcoin at "buy" price instead of the "sell" price and also "get rid" of the cars
- Bitcoin price will rise and maybe they would have liked to buy some more first

All in all, I may afford at some point to pay 0.1BTC for a Tesla car. I know, I'll have to wait a little more for the price to rise.

What I like about Elon Musk is that he believes in bitcoin as a currency and not like some other public figures who see it as an "asset" made for investment where it goes up in value and gives the investor some profit. Despite all his trollings at the end of the day this is an advertisement for bitcoin but as a currency, unlike other cases, so it is not just hyping bitcoin up.

[DatKing]

I also saw the tweet today, yeah. Tesla already made an announcement before for accepting Bitcoin when buying Tesla. And now, it is really awesome to see that it is happening. And I was really surprised with the line, "Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.". They bought a great deal of Bitcoin before, yes but I was expecting them to convert it to fiat after selling the cars with BTC. It looks like they really want to increase their investment in Bitcoin. 

[kryptqnick]

I anticipated this, but I'm surprised it happened so fast. It's only valid for US customers for now, I think, but if it gets available worldwide within this year, it's a big step. Another really cool thing is that they'll keep the money in BTC rather than convert it immediately to fiat. This means that Bitcoin will properly function as a payment method for a pretty big company. That being said, I don't know how this will stand with the authorities of various countries as well as with car dealers that actually sell Teslas. There can be serious obstacles tax-wise.

[repear7]

If tesla not convert btc to fiat, That's means tesla buying more bitcoin. Tesla still investing in bitcoin.Why not, The price of btc still increase and demand also increasing. Tesla also created a new demand of btc by accepting bitcoin.

[yazher]

Bitcoin is changing the whole world. Now with his influence as a top business man, Elon Musk and Tesla makes people considering to at least trying to buy and hold bitcoin. Elon makes bitcoin become mainstream time to time. Those unknown people will educate them self with bitcoin and crypto. Thank you, Elon.

They need to do this since they already put lots of money into it and they are not playing around with it. I think this is the start guys, we are seeing some big names promote Bitcoins to the public as if we are dreaming here. Yes! this is the reality and from here we will see some big changes in the price in the market in these coming days. so hold your horses and keep holding your BTC don't settle for the lower price.