Elon Musk Says You Can Buy a Tesla With Bitcoin

Tesla plans to keep Bitcoin received from transactions on its balance sheet, which may reduce Bitcoin's supply and potentially increase its price. This move reflects a broader trend of companies using Bitcoin as a treasury reserve. However, widespread consumer adoption of Bitcoin for purchases, such as buying a Tesla, remains unlikely, with less than 5% of transactions expected to be in Bitcoin over the next 12 to 18 months. The primary use of cryptocurrencies continues to be as a long-term store of value rather than for everyday transactions.

What is Tesla's approach to handling Bitcoin received from car sales?

• Donate it to charity

• Convert it immediately to USD

• Keep it on their balance sheet

• Use it to pay employees

How does holding Bitcoin on a company's balance sheet affect its supply?

• Has no effect on supply

• Doubles the supply

• Decreases the supply

• Increases the supply

Why might companies treat Bitcoin as good as cash?

• To increase its value

• Because it is a legal requirement

• To use it for transactions

• To avoid taxes

What is the expected percentage of Tesla transactions using Bitcoin in the next 12 to 18 months?

• More than 50%

• Less than 5%

• About 25%

• Exactly 10%

What was the percentage of merchant transactions using cryptocurrencies in 2020?

• Less than 1%

• 10%

• 25%

• 50%