BitcoinBitcoin PricebtcusdBTCUSDTElon Musktesla

Bitcoin Postpones Bearish Correction as Tesla Adds BTC Payment Option

An overnight price correction in the Bitcoin market after the Federal Reserve Chairman Jerome Powell’s testimony paused midway as Elon Musk came to the rescue.

You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021

The celebrated billionaire entrepreneur announced early Wednesday that his company Tesla now accepts Bitcoin as payments for its electric vehicles. He added that Tesla uses only internal and open source software as it operates Bitcoin nodes directly, thereby removing the necessity of having a third-party custodian and payment service.
“Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency,” Mr. Musk confirmed.
The milestone announcement followed almost a month after Tesla revealed in its securities filings that it bought $1.5 billion worth of Bitcoin sometime in January 2020, when the cryptocurrency was trading inside the $30,000-40,000 price range. BTC/USD had surged by almost 60 percent after Tesla’s filing.
Bitcoin Price Jumps
The latest Tesla announcement raised expectations of a rally repeat in the Bitcoin market. Carl Eric Martin, a popular crypto-based Swedish Youtuber, said he is “super insanely incredibly extremely extraordinary bullish” on Bitcoin for the rest of 2021.

Did the bears really think billionaires would buy #Bitcoin and then do nothing to help adoption, stimulate interest & defend its value?
— Alistair Milne (@alistairmilne) March 24, 2021

And a green candle flashed on the Bitcoin chart right after Mr. Musk’s tweet. The cryptocurrency climbed more than 1 percent, hitting an intraday high above $55,600, offsetting the impact of Mr. Powell’s testimony before Congress …
Story continues on Bitcoinist

Related posts
AA NewsBitcoinbitcoin adoptionBTCEURBTCGBPbtcusdBTCUSDTCrypto NewsElon MuskSocialtesla

Tesla Starts Accepting Bitcoin Payments: BTC Price Spikes $1,000 Immediately

Major Electric Vehicle manufacturer Tesla is now accepting bitcoin payment for its vehicles. As soon as the announcement saw daylight, In a tweet thread on Wednesday (Mar. 24, 2021), Tesla CEO Elon Musk announced that customers could pay for a…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTElon MuskNewsteslaxbtusd

Elon Musk: “You Can Now Buy A Tesla With Bitcoin”

Bitcoin users may have just received the most bullish news of the year. Although many analysts had predicted it, it was beginning to seem like an event that would most likely launch in the future ahead. Until the richest man…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Number Of Bitcoin Whales Holding At Least 100 BTC Burgeons

Bitcoin whales are multiplying on a daily basis, which means wallet addresses holding a larger sum of Bitcoin are also increasing. As Glassnode records in its weekly on-chain report, that over half of the market is now holding at least…