Did Elon Musk coincide his announcement with the imminent expiry of Bitcoin options worth $6 billion?
Elon Musk has set the crypto markets alight once again with a short and simple tweet: “You can now buy a Tesla with Bitcoin.”
Early on Wednesday morning, Tesla’s CEO and “Technoking” said the electric vehicle manufacturer is operating Bitcoin nodes directly — and any crypto that it receives through sales will not be converted into fiat, meaning its exposure to BTC will increase over time.
Although the feature is only available in the U.S. to begin with, Musk expressed hope that crypto will be accepted in international markets later this year.
“We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”
The news comes ahead of a record number of BTC options expiring at the end of this week.
Historically, the price of Bitcoin is pushed down when options expire — and this is good news for bears. But if BTC’s value suddenly rises, many bears would be forced to liquidate, and could suffer rather nasty financial losses.