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Borda, chief executive of cryptocurrency software company TokenSoft, said he regrets the purchase, because of how bitcoin values have soared. The "novelty" of doing so can quickly fade if the price rises dramatically, he said. Tesla may eliminate the middle man and create its own processing system that can be used to accept bitcoin and liquidate the payments whenever management chooses to, experts said. That would be an unusual step, because bitcoin is so volatile: even payments giant PayPal Holdings, which expects to allow cryptocurrencies on its network by mid-year, will settle transactions through Paxos Trust Company — meaning neither the merchant nor PayPal will have to hold the virtual coins.
Tesla founder and CEO Elon Musk , who also helped launch PayPal, has expressed enthusiasm about cryptocurrencies online, and industry sources say he has the technological expertise to build the required infrastructure. If Tesla goes that route, customers would transfer bitcoin into the automaker's own system.
The company will probably have to set a guaranteed exchange rate with customers for a very short period of time, said CoinShares Chairman Danny Masters. We get it. Ads can be annoying. But ads are also how we keep the garage doors open and the lights on here at Autoblog - and keep our stories free for you and for everyone. And free is good, right? If you'd be so kind as to allow our site, we promise to keep bringing you great content.
Thanks for that. And thanks for reading Autoblog. So can you buy a Tesla with bitcoin? Should you? And how? Why one buyer regrets it. Share 0 Comments. A Tesla representative did not immediately respond to a request for more details. Compare Now. Sign in to post. X Sign in to post Please sign in to leave a comment.
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