Will Tesla Be the First Car Manufacturer to Accept Cryptos?

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Ever since Elon Musk Tweeted about Bitcoin back on October 23rd, the crypto world has been begging his electric car company to begin accepting cryptos. In fact, Musk’s The Boring Company began accepting BTC, LTC, and BCH payments for its flamethrowers earlier this year, possibly using it as a test to see if the demand is there. Crypto holders certainly love to spend their money on cars and giving the crypto world #tesla2020 would be a dream come true for many.

Changpeng Zhou On Board

Changpeng Zhou (CZ) – Binance CEO – has expressed an interest in buying a Tesla if the company begins to accept cryptos. CZ quipped that he initially wrote the Tweet saying he would buy a Tesla with BNB – Binance’s native token – but decided to change it to cryptos for the sake of mass adoption. Musk and Tesla already have one high profile customer on board, and more are bound to follow.

Mustangs Already on the Table

While you can’t actually head down to a Ford or Shelby dealership and buy yourself a Bitcoin Mustang, you can head over to Classic Recreations and use your cryptos to grab a deal. For only 37 BTC you can get your hands on a custom built 1967 Shelby GT500 Mustang. More dealerships are beginning to slowly accept cryptos, especially for high-end and luxury vehicles, meaning we could realistically see Tesla drop its BTC wallet address sooner rather than later.

L’Operaio Keeping the Lambo Dream Alive

L’Operaio – a luxury car dealership in Japan – began accepting cryptos back in April in partnership with bitFlyer. Customers can spend up to $942,000 in cryptos, which will secure you even the most expensive of luxury cars. One bonus of using cryptos for high-value purchases is the fast settlement time. Rather than waiting days for the payment to clear, cryptos are sent to the garage’s wallet within minutes, meaning you can drive your new car out of the garage on the same day.
If Elon Musk does decide to allow customers to buy Teslas with cryptos, it will help push the boundaries of mass adoption. Soon other main dealerships will have to accept cryptos or risk losing a large portion of their customer base to the company. Tesla is a vision of the future and its cars are astonishing marvels of engineering, much like crypto – making the two a match made in heaven. The ball is in Musk’s court, but as soon as he opens up the possibility of paying for cars with crypto, we will definitely be the first in line!