Tesla

Business • Markets
Elon Musk announces Tesla now accepts Bitcoin as payment
Elon Musk announces Tesla now accepts Bitcoin as payment
Credit: Steve Jurvetson (Creative Commons Attribution 2.0)

Bitcoin jumped 5% after billionaire Elon Musk announced Tesla would accept the digital asset as payment. Musk published his tweet soon after Twitter users noticed the updated bitcoin support for all models of Tesla's cars across online US stores.

The carmaker disclosed last month it invested $1.5 billion in the digital asset and said it would soon begin accepting it as payment for its products.

Regional News • Asia • China
Chinese military restricts use of Tesla cars among personnel
Tesla Model S-1
Tesla Model S-1 Credit: Steve Jurvetson (Creative Commons Attribution 2.0)

China's government is restricting the use of Tesla Inc.'s vehicles by military staff and employees of key state-owned companies, citing concerns that the data collected by the cars could be a source of national security leaks, according to people familiar with the effort.

Fears over how data is handled by tech manufacturers also underscore how the rising popularity of highly digitalized cars-loaded with cameras and sensors and with built-in connectivity that allows carmakers to amass data-is stoking concerns over privacy and even national security. They were told by their agencies that among the government's concerns is that Tesla vehicles can be constantly in record mode, using cameras and other sensors to log various details, including short videos.

Business • Economy
Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products
Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products
Credit: Antana (Creative Commons Attribution 2.0)

The company said it bought the bitcoin for "more flexibility to further diversify and maximize returns on our cash," according to the filing. In addition to the purchase, Tesla said it would start accepting payments in bitcoin in exchange for its products as well.

The move raised immediate questions around CEO Elon Musk's behavior on Twitter recent weeks, where he has been credited for increasing the prices of cryptocurrencies like bitcoin and dogecoin by posting positive messages about them and therefore encouraging more people to buy.