You can now buy a Tesla with Bitcoin: Elon Musk

After Tesla invested in Bitcoin, other companies like Mastercard Inc. and Bank of New York Mellon Corp. also authorised the crypto-currency. 

On Wednesday, Tesla Inc's supremo Elon Musk announced that the company's electric vehicles can now be purchased using bitcoin, which will not be converted into regular currency. 

This process of ordering Tesla will be available outside the United States later this year. Musk took to Twitter to announce the news, "You can now buy a Tesla with bitcoin," he tweeted.

This announcement makes Tesla the first automobile company to accept payments in bitcoin in exchange for its products. In February, Tesla acquired $1.5 billion worth of bitcoin because they want 'more flexibility to further diversify and maximize returns on our cash', Musk tweeted.

Bitcoin which is the world's biggest digital currency, rose by 4% than ever since Mr Musk promoted cryptocurrencies on Twitter.

After Tesla invested in Bitcoin, other companies like Mastercard Inc. and Bank of New York Mellon Corp. also authorised the crypto-currency.