Recommended content
289

Bitcoin ATM installed at Elon Musk’s Tesla Gigafactory

Please note: The story updated with an official statement from LibertyX.


A Bitcoin ATM now operational 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.

UPDATED on October 11th, 16:28am (EST)

LibertyX later reached out to Finbold stating that the ATM has been live since August and is only accessible to Tesla employees.

The team further clarified that LibertyX did not install a new kiosk but added Bitcoin selling via software to the already installed three ATMs in the Gigafactory. According to LibertyX:

“LibertyX has partnered with the two largest ATM manufacturers (Genmega and Hyosung) to offer bitcoin software preinstalled on traditional ATMs. Once operators activate the feature, consumers can start buying bitcoin with their debit card from ATMs nationwide. We have 5,000 ATMs already live and plan to roll it out at over 100,000 ATMs over the next few years.

The Tesla locations have been live since August. The ATM is currently only accessible for employees.”

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.

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. 

Trusted Challeger Banks

What we like:

No hidden fees.

Multi-currency account.

Free business account.

Cheap and fast transfers abroad.

Rating

Visit Now

5 out of 5 (1 vote)

Join us on Twitter or Telegram

Follow on News
Jeremy Wilson
Author

Jeremy is a content crafter and has experience in writing about finances and digital assets for over 5 years. At Finbold.com he covers news related to finance, regulations, startups and cybersecurity on a daily basis.