Why not buy Tesla for bitcoin?
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Why not buy Tesla for bitcoin?

In recent days, many of you have certainly noticed the news that the American company Tesla, a leader in the production of electric vehicles, has added bitcoin to its payment options. The crypto community has received this message with enthusiasm and rightly considers it a bullish message. The option to purchase for BTC is currently only available to US customers, but the company declares that they plan to expand it also abroad this year.


The purchase of a vehicle for bitcoin takes place by converting its price in dollars at the time of purchase to BTC and the customer then sends it to Tesla. They inform buyers to be careful when entering a transfer to their e-wallet and also not to try to send other cryptocurrencies with a similar name (such as Bitcoin Cash) instead of bitcoin. In both cases, this would lead to the loss of the funds without the possibility of their recovery. When paying with a cryptocurrency, they may require additional information to help identify the customer. There is also speculation that in the future, the offer of cryptocurrencies payments could be extended to other altcoins.


However, what is much more interesting from the point of view of cryptocurrencies and bitcoin is that Tesla has declared that they do not plan to change bitcoins obtained from the sale of electric cars into FIAT currencies. After Tesla bought $ 1.5 billion worth of bitcoin, it is another step towards holding as much BTC as possible.


So why isn't it the best idea to buy Tesla for bitcoin?


Elon Musk did not become one of the richest people in the world by mistake and he knows very well what he is doing. This payment method is probably intended for large hodlers who hold BTC in tens or hundreds. Car prices are falling at a rocket pace over time. We all know that a new car will lose in price as soon as you leave the store with it, and for several years after the purchase, the price is approaching zero. On the other hand, the price of BTC is constantly rising in the long run. The funds for which you would buy a new electric car today can be worth millions in a few years. In simplicity, then, just ask the question - why would you exchange bitcoin, which is growing in value, for a car, which price, on the contrary, falls sharply after the purchase. The answer, of course, makes sense, but only from the point of view of Elon Musk and Tesla.


So let's sum it up. This is great news for bitcoin and cryptocurrencies, but we can't imagine who would really take advantage of this opportunity (perhaps in addition to some marketing move). The most important thing this report shows is that Elon Musk is extremely confident in the future of cryptocurrencies and especially bitcoin.

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