Tesla may take cryptocurrency for EVs

Tesla has indicated customers could soon buy its EVs using Bitcoin.

The indication has come in a newly submitted form Tesla has filed with the United States Securities and Exchange Commission, saying it has acquired US$1.5 billion in Bitcoins in January, and that it intends to accept it as a payment option in the near future, Teslarati reports.

The notification saw Bitcoin prices exceed 12% to around US$43,394, a gain of nearly 9% in early trading, it says.

Tesla says it expects to start accepting Bitcoin as a payment for its products in the near future, subject to applicable laws and initially on a limited basis.

It does have some concern, adding that digital assets may be subject to volatile market prices, which could be unfavourable at the time it plans to liquidate them.

The update comes amid Tesla chief executive Elon Musk’s frequent tweets about cryptocurrencies.

However, Musk says he’s also taking a break from Twitter, but first posted he is planning a book about Tesla and SpaceX.

One book has so far been produced about Musk’s story with his consent – a 2015 biography by Ashlee Vance called Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future.