THORChain Makes History with First-Ever Tesla Cybertruck Purchase Using Cryptocurrency
In a groundbreaking move that highlights the increasing integration of digital currencies into mainstream commerce, THORChain will be unveiling the first-ever Tesla Cybertruck purchased with cryptocurrency at Bitcoin 2024 in Nashville. The Bitcoin’d Tesla Cybertruck, designed specifically for the event, will make its official debut at the Pizza Angels event this Saturday.
This historic acquisition comes on the heels of Ferrari’s decision to extend its cryptocurrency payment options to Europe, following a successful rollout in the United States. However, unlike Ferrari’s dealer-enabled crypto transactions, the Cybertruck purchase by THORChain was a person-to-person sale conducted in Austin, Texas, with Tesla’s approval, circumventing any potential legal issues related to the company’s no-resale clause.
The team at THORChain, a decentralized network that enables users to swap cryptocurrencies across different blockchains without relying on centralized intermediaries, made the purchase. This peer-to-peer transaction reflects THORChain’s mission to facilitate direct, trust-minimized exchanges, eliminating the need for traditional financial intermediaries.
JP Thor, founder of THORChain, expressed his excitement about the purchase, stating, “This month marks five years since we launched THORChain in July 2019. We now natively support eight different blockchains without the need for bridges or wrapped tokens. Our new Swap Kit Developer API means that Layer 1 cross-chain native asset swap capabilities can be integrated directly into self-custody wallets and also allows Bitcoin holders to earn yield from deposits.”
During Bitcoin 2024, THORChain will showcase various interactive Cybertruck activations, culminating in a free pizza party co-hosted with PizzaDAO, celebrating the essence of the Bitcoin community.
THORChain’s decentralized, permissionless network facilitates cross-chain native asset swaps directly from self-custodial wallets, removing the need for centralized exchanges and third-party KYC processes. By minimizing friction, risk, and costs, it empowers users to retain full control over their assets. Currently, THORChain supports Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, and Litecoin, all secured by its native token, RUNE, which increases in value as more assets are deposited into the network.
The THORChain ecosystem continues to expand, with numerous apps, wallets, tools, and resources being developed by a global community of contributors. This latest development further solidifies THORChain’s position as a leader in the cryptocurrency space, pushing the boundaries of what is possible with digital currencies.
