Saturday, March 6

Buying your Tesla in bitcoin could soon be possible

In a document to the SEC, the policeman of the US Stock Exchange, Tesla said he wanted to accept bitcoin as a method of payment. And this in the near future.

Tesla Model S 2021

The new Tesla Model S 2021 // Gamesdone: Frandroid

The recent change to Elon Musk’s Twitter biography – simply composed of the term #bitcoin – foreshadowed a little twist in the cryptocurrency world. It’s done, since we learn that Tesla has invested $ 1.5 billion in bitcoin, according to a document submitted to the SEC, the US federal body for the regulation and control of financial markets.

Tesla: bitcoin as a method of payment

In addition to this certainly thunderous announcement which made the price of the cryptocurrency soar beyond 44,000 dollars a little earlier in the day, it is indeed another passage of said document that challenges. Passage whereby consumers will be able to buy a Tesla-branded product, in other words an electric car, with bitcoins. Here is what we can read there:

Also, in the near future, we plan to start accepting bitcoin as a payment method for our products, according to applicable laws and on a limited basis to begin with.

If the Californian manufacturer deployed this payment solution today, the French value of a Tesla Model 3 (43,800 euros) would correspond to 1.21 bitcoin (as of February 8 at 3:51 p.m.). And this without taking into account the ecological bonus of 7000 euros to which the connected compact is eligible. With, its price drops to 36,800 euros, or 1.02 bitcoin.

In France, will the acquisition of a Tesla car in bitcoin be legal? In the idea, the law does not oppose it. From a legislative point of view, “under French law, cryptocurrencies do not have a clear legal status and are not recognized as financial instruments. As a result, cryptocurrencies are not currently regulated.», Indicates the site

« Not regulated»Does not mean forbidden. This means that there is no rule governing them. Article L111 – 1 of the Monetary and Financial Code (CMF) recalls that “the currency of France is the euro. It is therefore the only legal tender in France.“. And to add that if “a professional can agree to be paid in cryptocurrency, nothing prevents him from refusing them either».

Walk the talk

The site adds: “cSome merchant sites accept payments in virtual currency (for example, Bitcoin). It works like a foreign currency with a price that evolves against the euro. This type of currency is not regulated by the authorities. You are solely responsible for its use“. The site Coinmap also identifies businesses that accept bitcoins.

Let us try to remember that Tesla is fond of announcements with great fanfare, without putting them in place for several months, or even years. So let’s remain cautious about the arrival of this novelty. Also, the firm on the other side of the Atlantic could open this solution to certain countries only in order to test the waters initially, and to extend it to other markets secondly.

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