The price of Bitcoin has crossed the $34,000 mark, which means that hodlers with at least 1 BTC in their wallets can now own a Tesla electric car. On Jan. 6, Bitcoin went ahead to hit $35,600, making Elon Musk’s brainchild more affordable that ever.
The New Bitcoin Exchange Rate
Some people in the crypto community have claimed that the new 2021 exchange rate should be 1 BTC=1 Tesla. The pricing on Tesla’s official website indicates that the entry level offering from the company for Model 3 is currently at $33,960 in the United States without any environmental fuel rewards offers.
Musk continues to face pressure to accept Bitcoin for he has taunted Bitcoin enthusiasts for long with tweets and comments that have made it unclear whether he supports the asset. Therefore, the pressure is for him to accept Bitcoin for Tesla purchases.
A popular twitter account, Documenting Bitcoin, shared a tweet over the weekend challenging Musk to make his stance public on when he would accept Bitcoin, as one BTC could now buy someone a Tesla.
— Documenting Bitcoin 📄 (@DocumentBitcoin) January 3, 2021
The CEO of Blockstream and Pixelmatic, Samsom Mow, also made this connection between the two, saying that few people clearly understood that one bitcoin would be equal to one Tesla soon.
— Samson Mow (@Excellion) January 6, 2021
Comments from this tweet were positive towards the future of Bitcoin, as one claimed that the new price meant that one could buy the Tesla and afford to charge it too. Juri Bulovic, the director of Bitcoin mining at Fidelity however, added that it would be a shame to buy model 3 now, when one could buy a roadster later in the year with 1 BTC.
Would be a shame to buy model 3 now, when you can buy a roadster for 1BTC later this year. 😄
— Juri Bulovic (@JuricaBulovic) January 6, 2021
Musk Endorses DOGE
Tesla stock is the only stock to outpace Bitcoin in 2020, which has drawn a lot of attention from committed Bitcoin followers. On Jan.1 2020, Tesla stock was under $90 but by the end of last week $TSLA traded at $729, marking more than 700% in annual returns.
Musk has not shown any signs of engaging with the idea of accepting Bitcoin as payment for Tesla. Instead, he has been focusing his Twitter energy on Dogecoin (DOGE). On Dec. 25, he created a Christmas greetings tweet that was translated as a tongue-in-cheek publicity for the meme-based altcoin, which made DOGE/USD shoot up by over 125% in a week.
Merry Christmas & happy holidays! 🎁 pic.twitter.com/uk6NSPwR9R
— Elon Musk (@elonmusk) December 25, 2020
Musk’s Twitter Christmas greeting to followers was graced by a Shiba Inu and further aided by adult actress Angela White adding to the uptick in Degecoin’s fortunes.
Image courtesy of Wikimedia