Topline
Bitcoin’s price surged Wednesday after Elon Musk revealed the cryptocurrency could now be used to purchase Tesla vehicles, a hotly anticipated move first teased when Tesla revealed it had invested $1.5 billion in the controversial asset and a signal of confidence that could bring Bitcoin closer to mainstream use.
Tesla CEO Elon Musk said bitcoin can be used to buy Tesla vehicles (Photo by Frederic J. BROWN / … [+]
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Key Facts
Musk revealed the new purchase option on Twitter early Wednesday morning, tweeting: “You can now buy a Tesla with Bitcoin.”
To begin with, the payment option will only be available in the U.S., Musk said, with plans to expand to other countries “later this year.”
Musk said the Bitcoin paid to Tesla “will be retained as Bitcoin” and not be converted to fiat currency, boosting the…