Telsa hints it may soon resume support for crypto payments
Tesla believes cryptocurrencies could emerge as a “liquid alternative to cash” over the longer term.
In a September quarterly filing with the U.S. Securities and Exchanges Commission (SEC), the firm stated it “may in the future restart the practice of transacting in cryptocurrencies,” suggesting Tesla is eying resuming support purchases made using digital assets.
The company also expressed its long-term belief in crypto assets as a store of value and means of payment, stating:
Tesla, the majo electric vehicle manufacturer headed by Dogecoin proselytizer Elon Musk, has hinted that it may soon look to restore support for crypto payments.
Tesla previously accepted Bitcoin as payment for electric vehicle purchases between January and March of this year. The move came as part of a broader Bitcoin embrace from Tesla, with the firm also investing $1.5 billion worth of its treasury into BTC during the first quarter of 2021.
However, support for Bitcoin was quickly shelved after the firm faced criticism for supporting BTC despite perceptions that proof-of-work mining has a negative impact on the environment.
The report comes amid news that Tesla’s market cap topped $1 trillion after securing a landmark deal with car rental company Hertz. Tesla’s share price also rallied about $1k for the first time ever.
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