Elon Musk announced via Twitter that he would be accepting Bitcoin payments.
  • Elon Musk announced on Twitter Tesla would begin accepting Bitcoin payments.
  • Tesla will "operate Bitcoin nodes directly," he said.
  • Musk invested $1.5 billion in the cryptocurrency earlier this year and has already made nearly $1 billion in profit.
  • For more stories visit Business Insider.

Elon Musk announced via a thread on Twitter that Tesla has begun accepting Bitcoin as a form of payment.

The Tesla and Space X founder said Tesla be using "only internal and open source software" and that it "operates Bitcoin nodes directly."

Nodes, according to CNBC, are computers that secure and verify Bitcoin transactions.

Additionally, "Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency."

Paying with Bitcoin, said Musk, is only possible in the US at the moment, but he hopes to expand the payment method to the rest of the world soon.

Earlier this year, Tesla invested $1.5 billion in the cryptocurrency. The investment has already netted Tesla nearly $1 billion in profit.

Receive a daily news update on your cellphone. Or get the best of our site emailed to you

Go to the Business Insider front page for more stories.