It’s now official; Tesla Vehicles can be purchased with Bitcoin.

This is according to Tesla CEO, Elon Musk. 

Tesla announced this would be happening in February, when the company said it purchased $1.5 billion worth of Bitcoin. In an SEC filing, Tesla said it might start accepting Bitcoin as a form of payment “in the near future.”

Musk also shared a few details on how this works in the background. He says Tesla operates its own Bitcoin nodes and uses “internal & open source software” for the bitcoin payment system. 

Notably for those bullish on the price of Bitcoin, Musk also said the company plans to retain the bitcoin it receives as bitcoin, instead of converting them to fiat currency. 

Finally, Musk said Bitcoin payments are only available in the U.S. right now, but they should become available outside the U.S. “later this year.”

The price of Bitcoin went sharply up following Musk’s announcement, from roughly $53,700 to $55,400.