22.09.2019

Is Tesla Readying For Bitcoin?

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About Tesla

We know a lot about Tesla. Elon Musk has ambitious plans of going to the moon—right where we expect Bitcoin prices to be lodged at, making Sci-fi movies a reality. With Space X, he is making headlines. However, it is what Tesla stands for: change.

Formed in 2003 by a group of visionary engineers, they embarked on a plan to demonstrate to the world that drivers need not to compromise and electric cars, despite all the myths, are adequate and reliable. These engineers believe that electric cars are “better, quicker and more fun to drive than gasoline cars” and they are right. If anything, they have everything to brag about. Model X is the safest, quickest and most reliable five star sports utility vehicle across all categories from the National Highway Traffic Safety Administration.

Meanwhile, Model 3 is a low priced, high-volume electric car that entered into production in 2017. What’s more, Tesla is not all about electric cars. Work is in progress to build Gigafactory 1 dedicated to significantly slashing the cost of battery cell production needed if their ecosystem is going to flourish.

Is Tesla Readying For Bitcoin?

At the time of press, you will need exactly 107.81060414084 BTCs to be a super proud owner of a Lamborghini Aventador. That’s expensive but what is costly for everyone is the increasing air pollution.

For a fact, studies show that even if the Italian car maker reduces their carbon emission by 35 percent, they will still be at the bottom of the list. But, anyhow, it is exactly what we should expect from a V-12 engine with a top speed of 350 miles per hour.

The factory might have decided to put a 17,000 m2 of solar panels and install better insulation to reduce noise pollution, but still, we remain with a simple fact: they are still not very effective in cutting down pollution. Every purchase is therefore a compromise. Out goes Lambo, Enter Tesla.

Why Tesla and Bitcoin Have A lot in Common

However, what is interesting is Tesla’s decision to close all of their 378 physical stores. Advised by solid statistics that 78 percent of Model 3 orders were made online and a further 80 percent bought the car without test driving, Elon says the decision is just but a natural step. It may be a risky step but Elon is used to risk.

Like Bitcoin, Tesla wants all their transaction to be digital. What this means is that anyone, anywhere in the world can shop straight from the comfort of their homes and order a Model 3 without the need of physically visiting a store to verify features. It is a cost cutting move that is expected to further lower the cost of Model 3, boost sales and help the company increase revenue by at least six percent.

Although jobs will be lost, the decision is a stroke of genius and since Tesla’s modus operandi doesn’t include third party intermediaries, it will be a natural step to incorporate a similar currency in Bitcoin. With a trustless network devoid of intermediaries, Bitcoin like Tesla, work on the premise of disrupting status quo. That it is about time for age-old models to change and transition to a global and inclusive system.

Changpeng Zhao will be the first to open doors, buying a Model 3 if Tesla accepts Crypto. More will follow as it is something new. If Jay Z and Beyonce accept ticket payment in Bitcoin why won’t Tesla, a mega motor company, accepts Bitcoin? No doubt, if they do, others will follow and we all know how pioneers in any field benefit whenever they trail blaze.

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