Bitcoin: Price increase after Musk’s tweet about the possibility of buying Tesla

The price of bitcoin rose yesterday, Wednesday 24th of March, after Elon Musk said that cryptocurrency can now be used to buy Tesla electric cars, an option that will be available outside the US later this year.


Bitcoin was trading at more than 3% and was trading at $55.444 shortly after Musk’s tweet.


You can now buy a Tesla with bitcoin,” Musk wrote on Twitter, adding: “The bitcoins paid to Tesla will be retained and not converted into banknotes.”


Last month, Tesla announced that it had bought $1.5 billion worth of bitcoin and would soon accept it as a means of paying for cars, raising the price of its most popular cryptocurrency.