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Tesla plans to accept bitcoin as payment for vehicles

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Tesla mentioned it plans to start providing the digital forex as fee for autos quickly.

NEW YORK — Tesla has acquired round $1.5 billion in Bitcoin underneath an funding coverage on the electrical automotive maker headed by Elon Musk, and it plans to start accepting the digital forex as fee for autos quickly.

The California firm revealed the brand new technique in a submitting with the U.S. Securities and Change Fee early Monday, saying its funding in digital forex and different “various reserve property” could develop.

Bitcoin spiked 14% and appeared to briefly hit a brand new all-time excessive. Shares of Tesla moved increased as properly.

In its fourth quarter earnings report final month Tesla mentioned it had money and money equivalents of $19.four billion.

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