THORChain is set to reveal the very first Tesla Cybertruck purchased with cryptocurrency at Bitcoin 2024 in Nashville. This groundbreaking purchase, completed using Bitcoin, highlights the growing acceptance of digital currencies in everyday commerce. The specially designed Bitcoin-themed Tesla Cybertruck for Bitcoin 2024 will be unveiled at the Pizza Angels event this upcoming Saturday.
This announcement follows Ferrari’s recent expansion of cryptocurrency payment options into Europe, following a successful introduction in the United States.
Unlike Ferrari’s dealer-backed crypto transactions, the Cybertruck sale is unique for being a direct person-to-person transaction carried out in Austin, Texas. With approval from Tesla, the transaction bypassed any potential legal issues related to the company’s non-resale policy.
The THORChain team purchased the Cybertruck, a decentralized network that enables users to exchange cryptocurrencies across different blockchains without the need for centralized middlemen. This peer-to-peer transaction aligns with THORChain’s goal of facilitating direct, trust-minimized exchanges, eliminating the reliance on traditional financial intermediaries.
JP Thor, the founder of THORChain, stated: “This month marks the fifth anniversary since the launch of THORChain in July 2019. We now support eight different blockchains natively without the necessity of bridges or wrapped tokens. Our new Swap Kit Developer API allows for Layer 1 cross-chain native asset swaps to be directly integrated into self-custody wallets, enabling Bitcoin holders to earn yield from deposits.”
At Bitcoin 2024, THORChain will showcase a range of interactive Cybertruck activities, culminating in a pizza party in partnership with PizzaDAO, honoring the essence of the Bitcoin community.
THORChain’s decentralized, permissionless network facilitates cross-chain native asset swaps directly from self-custodial wallets, eliminating the need for centralized exchanges and third-party KYC procedures. By reducing friction, risk, and expenses, it empowers users to have full control over their assets. Currently, THORChain supports Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, and Litecoin, all backed by its native token, RUNE. The value of RUNE increases with the growth of assets deposited into the network.
The THORChain ecosystem is continuously expanding, with a variety of apps, wallets, tools, and resources being developed by a global community of contributors.
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