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Bitcoin ATM installed at Elon Musk's Tesla Gigafactory

finbold.com 11 October 2020 17:00, UTC
Reading time: ~2 m

A Bitcoin ATM has been installed at the Tesla Fremont Gigafactory in Nevada. 

It is not clear when the LibertyX ATM was installed but a view of Google Map shows that the facility attracted only one comment within the last nine hours as of writing. This is an indicator that the Bitcoin ATM might have been installed recently. 

The installation of the ATM was first shared by a Twitter user by the name Will Reeves. According to Reeves:

“Just passed by and saw @elonmusk has a bitcoin atm at the Gigafactory.”

Finbold.com has also independently verified the existence of the ATM at the Tesla facility.

However, our team has reached out to the LibertyX team for a comment on the ATM installation but by press time, the team had not issued feedback. According to LibertyX the ATM at the Tesla Gigafactory is already active and users can buy Bitcoin 24/7.

Liberty X Tesla Gigafactory ATM. Google Maps image.

The latest installation at Gigafactory makes part of the 10,863 total Bitcoin ATMs currently installed globally, according to Coin ATM Radar

Elon Musk’s support for Bitcoin

The installation of the ATM does not come as a surprise considering that Tesla founder Elon Musk is a big fan of edge-cutting technology. At some time, Musk revealed that he owns a fraction of Bitcoin.

Not sure. I let @jack know, but it’s still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.

— Elon Musk (@elonmusk) February 22, 2018

There were speculations that Musk was Satoshi Nakamoto, the mysterious Bitcoin flounder. However, Tesla has denied the allegations. 

In previous tweets, Musk said central banks like the US Federal Reserve, have made bitcoin look solid by comparison because of their recent behavior of pumping money into the economy.

Since the financial crisis in 2008, most central banks embarked on programs of quantitative easing by pumping vast sums of money into the economy to prevent economic collapse.

Bitcoin ATMs are increasingly becoming the most convenient alternative to crypto exchanges and banks. The option to buy bitcoins in ATMs is comfortable and safe 

By press time, Bitcoin was trading at $11,374. 

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