Bitcoin aficionados may have just received the most bullish news of the year. Although many analysts had predicted this, the event seemed to come only in the near and dark future. However, today the richest man in the world tweeted what everyone was hoping for, which is the ability to buy his electric cars via Bitcoin.
What changes in the digital currency scenario?
Elon Musk just ignited Twitter and all his "followers" with his most recent tweets. Tesla CEO (Tesla shares - ticker TSLA) has published a series of posts stating that its customers will now be able to buy Tesla electric cars using Bitcoin.
This takes on an even better aspect as Musk reveals that Tesla is leveraging open source software that allows him to manage Bitcoin nodes internally.
This allows the company to withhold every Bitcoin payment without converting it into fiat currency. In essence, this means that every single Bitcoin paid by customers for vehicle purchases will not be liquidated.
Musk's tweet explaining this states that: “Tesla uses only internal and open source software to directly manage the Bitcoin nodes. The bitcoins paid to Tesla will be kept in the form of Bitcoin and not converted into fiat currency ”.
At the time of this article's publication, this payment option is only available to customers in the United States. But Musk intends to make the Bitcoin payment option available worldwide and therefore to as many customers as possible.
In a concluding tweet, the billionaire said that "Paying with Bitcoin will be possible outside the United States by the end of the year." This means that within 9 months, many more countries will be able to buy its electric cars via Bitcoin.
Bitcoin continues its upward run
This is a very positive sign for the sector and for many reasons. But to sum it up, it is a new development that has the ability to kick off the second phase of the Bitcoin bull market.
As of press time, Bitcoin is trading at $ 56.165. This price could quickly make an upward correction once the "Elon Musk effect" begins to attract attention.
In the long run, the feelings of whales, institutions and miners will most likely favor the market. This is because the game of accumulation and possession will continue to intensify.
Bitcoiners in the industry are excited about the future of their digital currency, which they believe is more bullish than ever after the announcement. Interestingly, Bitcoin advocates may be the first to test this option, as a handful of them had previously promised to buy Tesla cars once Musk starts accepting Bitcoin as a payment method.
And how many bitcoins have you accumulated in your wallet and are you ready to spend by the end of the year to fill Musk's pockets even more? We have been telling you between the lines for months, accumulate people!