Currently difficult in a volatile bull market, crypto is still fighting to gain widespread acceptance as a new method of payment.
For example, Tesla makes paying for a Model S, 3, X or Y in BTC easy and attractive.
This last week in March, CEO Elon Musk stated via Twitter that Tesla’s innovative automaker had given the green light to buyers interested in buying against their electric cars in the Bitcoin digital currency. It is a plan by Tesla to obtain the largest possible percentage of the original cryptocurrency – or at least this is what the company’s policy shows – due to the lack of clarity of the manufacturer’s plans to convert the cryptocurrency into digital currency.
“You have about 30 minutes to make a payment,” a Tesla representative for the Northeast confirmed Thursday.
This condition is not surprising given Bitcoin’s many fluctuations – which is based on the direction in which the exchange rate moves, a car buyer or Tesla can swing through a wide swing – it underlines how even in a developing bull market, crypto is still struggling. Gain widespread acceptance as a payment method.
The fault lies in the original intricacies of the Bitcoin system, the US tax policy around cryptocurrencies, and in this case, the paucity of information available from Tesla’s customer support team. At least, if you are a member of the press and looking for answers.
While Lamborghinis have long been the objet petit afor many Bitcoiners, those that have made the purchase – or any purchase – often come to regret it. In 2013, someone purchased a $103,000 Tesla Model S Performance for 91.4 BTC. Those coins today would be worth $4.7 million.