REUTERS: Tesla Inc customers can now buy its electric vehicles with bitcoin, its boss, Elon Musk, said on Wednesday, marking a significant step forward for the cryptocurrency's use in commerce.
Bitcoin, the world's biggest digital currency, rose more than 4per cent after Musk's tweet and was last trading at US$56,429. Most mainstream companies such as AT&T Inc and Microsoft Corp that allow customers to pay with bitcoin typically use specialist payment processors that convert the cryptocurrency into, say, dollars and send the sum to the company.Like other cryptocurrencies, bitcoin is still little used for commerce in major economies, hampered by its volatility and relatively costly and slow processing times.
He had said that the difference with cash made it"adventurous enough" for the S&P 500 company to hold the cryptocurrency.
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