First Tesla bought with Bitcoin

A Telsa Model S has been purchased directly with Bitcoin, the electronic currency. The Tesla was purchased from a Lamborghini dealer in Longbeach, Calif.

“Lamborghini Newport Beach is proud to announce that we are fully capable of accepting Bitcoin as legal tender for vehicles.  We are excited to opening the door to this new currency,” the company wrote on its blog.

Bitcoins are generated by “mining,” wherein computers execute mathematical operations to find the coins through a distributed, decentralized network. Depending on the user’s available computer power, it can take anywhere from minutes to months to generate a single Bitcoin.

Currently, the Bitcoin-U.S. dollar exchange rate is about $1,013 per Bitcoin. At that rate, a new Tesla Model S would cost about 70-100 Bitcoins.

Despite a recent spate of battery fires due to road debris strikes, and an ongoing NHTSA investigation, the Tesla Model S continues to generate a great deal of interest among new-car buyers, particularly those nearer the cutting edge of technology–so perhaps it’s unsurprising the American-made electric car should be among the first known vehicles purchased directly with Bitcoin.

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