Tesla Invests $1.5b into Bitcoin - Plans to Start Accepting It as Payment

The moment everyone in the crypto space has been waiting for, including me. This is absolutely massive news, can't stress this enough. Investing in BTC is one thing but accepting it as a form of payment is huge.

BTC will be at 50k before you know it. Congrats to all hodlers. Game theory is now on. The upside from here is huge. Will continue to DCA. Doesn't change my plans. Anyone else?


Tesla announced Monday it has bought $1.5 billion worth of bitcoin.

In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.” Tesla also said it will start accepting payments in bitcoin in exchange for its products. That would make Tesla the first major automaker to accept do so.

The moves raised immediate questions around CEO Elon Musk’s behavior on Twitter recent weeks, where he has been credited for increasing the prices of cryptocurrencies like bitcoin and dogecoin by posting positive messages that have encouraged more people to buy the digital currencies.

Two weeks ago, the billionaire Tesla owned added the hashtag #bitcoin to his Twitter bio, in a move that helped to briefly push up the price of the cryptocurrency by as much as 20%. Two days later, he said on the social medial chat site Clubhouse: “I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin.”

Bitcoin prices surged to new highs Monday following Tesla’s announcement, reaching a price of at least $44,200. Tesla shares were up more than 2.5% in premarket trading. Tesla warned investors of the volatility of bitcoin’s price in its SEC filing.

Tesla’s move into bitcoin represents an investment of a significant percentage of its cash in the investment. The company had more than $19 billion in cash and cash equivalents on hand at the end of 2020, according to its most recent filing.

Related Stores



  • amazing news.
    surely some of the biggest news in crypto currency history.

    are there any bitcoin skeptics left?

    • Peter Schiff. Screaming ponzi since $10. ;D

      • he's just mad he lost/screwed up his bitcoin wallet. lmfao i mean who has time to write down seed words?

        • Some people would rather be right than filthy rich.

        • He's gotta be trolling at this point. His 18 year son holds Bitcoin and his portfolio probably outperformed his father's.

      • he's honestly just worried that his precious gold will devalue…

    • +2

      Pretty much every boomer and index fund investor in the world. Idiots

    • +1

      Unsure about Bitcoin sceptics specifically but a lot of non-tech people think all of crypto is the same (as in currency coins) so I think there is a lot more to go until people truly understand that most cryptocurrencies have a utility behind them (more like stocks with an underlying company) and the coin is either used to utilise or govern the system.

      • +4

        most cryptocurrencies have a utility behind them

        most cryptos don't have actual, practical utility. Only theoretical utility. It is not like stocks, which has a company with revenue behind it generating value. Aka, crypto's "utility" atm is speculative.

        If tesla decides to accept bitcoin as a payment option, it does increase the utility of bitcoin as a currency. But so far it's all just talk…

        • In a sense I agree but I still think the utility of many of the cryptocurrencies are much broader than people actually realise.

          An example is ETH which is used to pay to use the Ethereum blockchain, which can be used to perform various tasks. So as long as there's demand to use the Ethereum network then ETH still have value. Gas fees for ethereum are astronomical right now which is why ETH 2.0 is being rolled out.

          Cryptocurrencies created purely for the trade of value are a clear minority. If you're curious I suggest reading some of the white papers as they're pretty interesting.

  • +5

    I am DCA on BTC ETH and ADA atm, $50 a week every week split $30/$15/$15.

    • +2

      wise. good split that.
      I'd also add a touch of DOT, ZIL and CEL

    • Where are you DCAing for the above split? Been looking around for a platform that doesn't gouge on fees.

      • I use coinspot, 0.1% for market trade on BTC and ETH, and 1% on the spot buy with ADA.

        The 1% on the spot buy with ADA hurt but it is the most convenience exchange in AU that you can do it with.

        • Wouldn't you be better off buying extra BTC and trading into ADA? Or isn't that pair offered?

    • I'm in on BTC (60%), ETH (20%) and the rest on ADA, ELGD, XLM, Polka, Uni, ZIL and Link and a bunch of Polka defi.

      • Love the name!

        What Polka defi are you hodling? I thought they were mostly on Ethereum

    • +3

      30+15+15 = ?

    • +1

      The numbers add up to $60 though haha

  • +1

    Tesla announced Monday it has bought $1.5 billion worth of bitcoin.

    So the real question is how much $DOGE did they buy? 😂

  • +6

    Oh god… the first thought that comes to mind is how unbearable people with BTC are going to be.

    But eh, this sort of thing has happened before and hasn't really changed much. I still don't see the value in it and not sure what Tesla's plan is here (unless it's just to make some quick cash as it seems they can easily buy it at current prices, announce it, make 20% profit and then just bank the profits).

    Hats off to the innovators/risk-takers who one day may have called it all right and are rich now, but for me it's still just a gambling currency/way to buy illegal goods.

    • +3

      Pump and dump while everyone's got investment FOMO

    • +1

      The old fallacy around it being a good way to buy illegal goods, you know cash can be used for that right? And is much more easily hidden.

      People who have used Bitcoin to purchase illegal goods, even from years ago can be tracked down to this day. The ledger is there, with every transaction ever recorded on it. While the wallets are a random number of letters/numbers, you can trace that through from start to finish.

      All on-ramps to get in to Crypto are now highly regulated, they require KYC and then every hop from wallet to wallet can be easily traced from there.

      • Few understand and never will.

      • +1

        Whether it's a good method or not it's still the only way to purchase from darkweb markets.

      • +1

        I speak from experience but I found noone would accept cash and only took BTC for certain transactions. So not really a fallacy no.

        And I thought a massive selling point was anonymity. If that's gone that makes BTC even less valuable…

        And love the "Only the elite few understand BTC" statements as expected lol.

        • +1

          That's why i got in last year before the halving because i understand the effect this will have on the price. People who refuse to understand BTC never will. I've accepted that. Just be happy for people who does. :)

          • +1

            @Hodler: You don't need to understand it to make an investment, and likewise you can understand it to some degree and still not invest. People don't need to invest, and people aren't dumb for not investing.

            • @sghetti: I rather understand something before i invest. Else i wouldn't have any idea what i am doing. You shouldn't put words in my mouth. I did not claim people who didn't invest in BTC are dumb. All i said was, people who refused to understand something never will and i have accepted that.

              • +1

                @Hodler: Your comments leaned rather heavily on the fact that if you understood it you'd be buying it.

                • @sghetti: Yes if i understand something and i see upside, i will buy. People who doesn't are not dumb. I did not claim that.

            • +1

              @sghetti: GameStop is exactly demonstration, some big fish made lots of money and a lot of little people ended up holding the bag. Some people just pretend it is an investment but really they are just chasing returns.

              How do people spend money that they don't know how it came? Like it is free and end up being poor again.

              • @netjock: lol that's fine. Each to their own.

            • -1

              @sghetti: You're not wrong, but people who make comments like this "but for me it's still just a gambling currency/way to buy illegal goods", are.

              • +1

                @nomoneynoproblems: Have you purchased anything with BTC yet?

                • @Cheaplikethebird: Nope, and probably never will. For me it will remain a store of value/investment.

                  • @nomoneynoproblems: There you go.

                    Gold still has real world uses. Since you probably know more about this than I, what would happen in the case of a global EMP event?

                    • +2

                      @Cheaplikethebird: Everything resets to zero. Legacy bank accounts zero, credit cards zero, mortgages zero, student loans zero, taxes zero, flyby points zero, Cashrewards zero, Gamestonks zero, etc. BTC would be the last thing people think about when they fight over toilet tissue and pasta.

    • you have to buy over a kyc exchange. It is a public ledger so fully traceable where the BTc originate from .
      most of the the illegal buying happens with Cash not Bitcoin.

  • +6

    He is smart , just pumping up the price . I cant belive that people dont see through his BS.

    "Tesla also said it will start accepting payments in bitcoin in exchange for its products". Why would anyone pay for a car using bitcoin ? If you think that the value of bitcoin is going to be 100k in a couple of years, would you honestly buy a car right now with your bitcoin ?

    We have all heard of this guy


    • Also Elon is purchasing via Tesla. Although his wealth is tied up in Tesla it is basically other people money. The money they raised recently from investors.

      If Elon put $1.5bn of his own money into it I'll take a look. We still haven't noticed how few companies collapse or make massive losses and so few people go to jail.

      Why would anyone pay for a car using bitcoin ?

      People might pay for it and Tesla would just convert it to cash immediately to pay real life bills.

      • +5

        The problem I have is that I don't see bitcoin ever being able to be used as a currency . I see it just as a instrument of value similar to gold.

        • It isn't even a coin. They just gave it a fancy name and got enough people to believe in it.

  • Who likes green apples?

  • Isn't the relevant question - how much will Tesla charge (in BTC)?

    • The play here is to buy BTC ASAP to take advantage of its exchange rate before it goes higher. 1 BTC may be enough to buy two Cybertrucks for Xmas.


      single motor rwd $39,900 <1 BTC
      dual motor awd $49,900 >1 BTC
      tri motor awd $69,900 >1.5 BTC
      self driving $10,000 <2.2 BTC
      Selecting Full Self-Driving today will secure your price as it increases in the future.Learn more

      • I want the Model Y. God knows when it will get here.

        • +1

          In 2022 when Amazon, Apple, Microsoft, Facebook, Alphabet, etc, wants a slice of the ever-shrinking yellow pie. Nobody wants to be the first and they definitely don't want to the last.

          • @whooah1979: Let's see who's next. Would be nice to have one of the companies on your list. Game theory.

            When lightning network becomes more widely used and available, things will get very interesting.

            • @Hodler: There is a good probability that some of the 6000k company executives that attended the MicroStrategy conference will be the next ones to grab a chair. Tesla sent two or three exec and 4 days later this happens.

              • +1

                @whooah1979: Saylor definitely helped Elon front run the herd. Would assume the others will need a couple of months at least to get themselves set up for any form of cryptocurrency investment. Should see a good bump March onwards.

                • @Hodler: Exactly they will use Bitcoin as a form of investment and not an actual payment mechanism.

          • +3

            @whooah1979: Microsoft accepted Bitcoin years ago for buying things on the Xbox Live Marketplace (yes, that long ago). They stopped, because accepting payment in something that's worth $50 no $12 no $75 no $16.50 is just stupid. As long as it's more volatile than Diet Coke and Mentos, it's worthless as a currency.

            • @Kyanar: That is what I couldn't understand, and why I asked about the pricing for Tesla vehicles.
              Surely Tesla would not take on the 'currency' exchange risk, when the majority of their production costs would not be in that 'currency'.

  • +1

    Musk loves to pull stock price levers….

  • Did the furst boom bitcoin whales stay in?

    • Good idea of the distribution of wallets. There are massive old whales that do the occasional dump but the ripple effect is a bit more contained this cycle and their holdings are getting redistributed. Last bull run there were 6-7 30% corrections. We made it through one so far this year. Few more to come. Key to understand the cycles and how money flows between BTC, big caps and other coins.


  • meanwhile I am here looking for gumtree seller accepting bitcoin as payment.

    • -1

      Bank transfer scams are easier and it is pure profit. No need to worry about bitcoin price volatility.

      Although a few people might give you GameStop shares as payment if you see upside it accepting it.

  • +5

    Bitcoin is backed by nothing. And it doesn't have enough inflation.

    Unlike government currency, which is backed by either cotton or polyester.

  • +2

    This is an environmental disaster. Tesla claims to be the "green" choice, but Musk is now using Tesla as a vehicle to push a cryptocurrency that consumes, per transaction, the same energy as an average US household for 22 days, and annualised consumes the same energy as Chile - yes, the country. It produces the same electronic waste as Luxembourg, and the has the same carbon footprint as New Zealand. The planet is doomed with all this crypto pumping.

    • +1

      1 BTC may be enough to buy two Cybertruck this🎄. Xmas 2020 was a crap one. Let's make 2021 a great one.

    • -3

      its a global currency.

      How much energy global banks use for its day to day operation? How much energy is required by global gold mining? Gaming, tiktok and meme videos on youtube.
      Most bitcoin is mined using renewables or where the production of electricity is cheap.

      The miners are sold electricity at a discount because that energy would otherwise be wasted. If it is considered wasting the simple solution is to increase the cost which will not happen..

      • what an uninformed load of…
        Its a huge waste of energy no matter how it is produced that could be used for something of real value. Elon Musk is a hypocrite and should lock away his bitcoin forever to ensure it isn't transacted in the power hungry ledger

  • What could blow peoples minds is that Tesla could sell an ASIC addon for their vehicles. Drivers could use the block rewards for charging credits.

    • How will you power it?

      • That is a matter for Tesla to deal with.

  • Merged from Who's Buying Bitcoin?

    My friends keep telling me they are buying Bitcoin and its "going to the moon" because "Elon Musk".

    I just keep ignoring them. Am I wrong?

    • There's no easy answer to that. Just like everything else (stocks/shares/investments/forex/precious metals/commodities), you could earn a lot of money, you could lose a lot of money or stay level. Anyone's guess.

    • I bought some today. Even though it is at all time high.

      anybody who has bought and held bitcoin in the past is in profit today.

      if you're not sure, dollar cost average a small portion of your savings (1-5%) and see.

      I'm a firm believer in it and Telsa and others buying is only just the beginning.

    • If you buy, you have a 50-50 chance of Doubling your investment or losing everything altogether. It is just a gamble. Bitcoin has no practical use. It is just acting as a rare resource, like gold.

      • Melvin capital got rekt thinking GME would go to zero.

        Anyone that thinks that BTC will go to zero is welcome to put 💵 where their mouth is and short. The bulls are happy to take their 💵.

        • What about all the GME bag holders now? The squeeze didn't squoze.

          • +1

            @deme: They are apes with diamond hand…

          • @deme: They are now GME stakeholders.

            • @whooah1979: Did you invest any in GME or did you just watch?

    • Obviously, it's high right now. But remember Elon only just got in at $35k per coin for $1.5b just few weeks back. And Microstrategy's bitcoin conference for corporations just ended few days ago. Thousands of CEOs and company reps attended. Aim is to get them to allocate part of their corporate treasury to Bitcoin. Could be a couple of months before they are set up to invest.

      Will let you come to your own conclusion. People who don't like crypto will never come around anyway. Read the Bitcoin standard and understand more before going in. Keep an open mind. If you go in thinking it's all ponzi and scam, then probably don't waste your time on it.

      • After reading your first paragraph I thought you were trying to convince me it was a pump and dump

        • Just understand the bitcoin cycles. There are bull and bear years. Plan your risk and take profits accordingly. The price at the end of the year will surprise a lot of people.

          • @Hodler:

            The price at the end of the year will surprise a lot of people.

            What will the price be?

            • @black crush: My guess? $70k-$80k at a minimum barring any black swan event like stock/bond market crashes that will pretty much wipe everything out anyway. I do not think people like Elon and Guggenheim will be getting in at $32k-$35k when we have almost topped out. They are not stupid.

              Anyway, here is something Cathie Wood said,

              "if all S&P 500 companies allocate just one percent of their cash to Bitcoin – the price will hit approximately $40,000.

              Is Bitcoin A Buy?
              Cathie Wood and her team made a bold statement about Bitcoin, saying, “We believe bitcoin offers one of the most compelling risk-reward profiles among assets.” She isn’t alone. A survey by independent financial advisory firm Devere Group determined that 73 percent of millionaires are already investing in Bitcoin or plan to within the next 24 months.

              Is there risk? Certainly. But given the support from big names in investing, Bitcoin is a smart buy for those willing to take a chance."

              The $40k target was before Elon Musk put in more than 10% of Tesla's treasury. See how that just blew BTC's price out of the water? I reckon if i was the CEO of a listed company and i am sitting on millions and billions of cash, would i put just 1-5% of it on BTC, something volatile but gives good growth as a small bet or would i continue sitting on cash that is just going to devalue more and more? Elon and Michael Saylor from Microstrategy has given the go ahead for CEO's to pitch BTC to their board.

              Similar, you have $100 in your pocket, i tell you to put in $1-$5 on something that might give you 50-100% returns from here. Will you take that small bet? People spend hundreds on buying lotteries tickets, going to casinos, bet on horses that gives you almost absolutely minimal chance of winning rather than investing in and DCA into BTC and calling it a scam and a ponzi. It's insane.

              Buy on dips, not on pumps.

              My thoughts anyway. I put my reputation on the line and got a lot of friends in last year during the halving event. A lot of them are millionaires and they understood the risk reward. This was at $8000. Risk reward is obviously very different now at $47k so everyone just have to make up their own minds. Otherwise, read the Bitcoin Standard.

              Anti Bitcoiners, i have no time to reply or debate you. You have came to your conclusion. My life continues and yours too.

              • @Hodler: You have just described a pump and dump

  • This thread is strange. Bitcoin has gone from digital currency to digital value store back to digital currency
    Does it still cost $150 to get your transaction done in less than a second?

    • People can watch the tx live.

    • https://mempool.space/ it costs about $10 if you are in a hurry.

      But if you are smart and not in a rush for txn to confirm it should not be more than $1..

      Ive never paid more than a dollar in last 5 years except when i am not in control like withdrawing from an exchange. but that has changed too by using Bitaroo.

      Dont fall for people who want to discredit BTC. DM me if you have questions.

      • How long does $1 fee take? Can I buy my sushi with btc?

        • you dont need an immutable blockchain to buy $1 sushi. its a store of value if you want to buy sushi with btc ur not very bright. as btc costs exchange fees mining fees and time.. just use ur credit card.

          • @DisabledUser382733: What about paying for charging your Tesla?

            • @deme: you can afford a $10 fee for a $30k tesla. which Tesla will be happy to pay.

              Besides, I personally would still pay cash if i can.

              • @DisabledUser382733: What about paying for charging your Tesla?

                • @deme: what about it?

                  • @DisabledUser382733: Is it viable to use Bitcoin to pay for charging?

                    • @deme: I hope you are just curious and not trolling.

                      of course it is possible and does it much better the traditional finance system with finality.

                      read up on realtime payments using lightning network which is one of the side channel for Bitcoin. Its being currently used for streaming payments on Sphinx App, where u pay per time spent listening to podcasts.

                      Strike App is using lightning network. It is being used for instant worldwide transfer and will be available all over the world this year hopefully.

                      all the tesla owner needs to do is open a lightning channel with Tesla. this can easily be resolved using bitcoin network without a bank peer to peer.

                      there are many solutions..

                      • @DisabledUser382733: Any downsides to lightning network, it seems this solves the Bitcoin liquidity problem.

                        • @deme: the user does not need to worry about that payments if the channel is directly with Tesla. Liquidity problem arises when user has to receive payments. there are many solutions to that as well. one of them is https://lightning.engineering/pool/

                          • @DisabledUser382733: So can I use Bitcoin via lightning to pay for sushi?

                            • @deme: yes that is possible too..

                • @deme: Tesla already has a solution for this.


                  Every Tesla owner has an account that allows them to use the mobile app that is linked to their vehicle and key card. When you plug into a super charger it knows who you are and charges your account.

                  When a Supercharger is plugged into a Tesla car, there is a handshake protocol though which the individual car is identified to the charger.

                  Musk comes from the fintech world. X.com > Paypal > SpaceX > Tesla. Developing a way to accept digital payments is a walk-in park for someone that can send rockets into space.

Login or Join to leave a comment