According to the source, the automaker will retain Bitcoin without converting it to fiat money. Tesla announced the plan to introduce BTC as a payment method earlier this year. In February, the company purchased Bitcoin worth $1.5 billion.

Other large companies besides Tesla accept payments for their products and services in Bitcoin. This includes Microsoft, streaming platform Twitch, online travel booking website Expedia, luxury hotel chain The Kessler Collection, beauty retailer Lush, and a number of others.

As per CoinMarketCap’s current data, Bitcoin is up by 3.88% in the past 24 hours. It is trading at around $57,000 at the time of writing.

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