Telsa Hints She May Resume Support For Crypto Payments Soon

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Tesla, the leading electric vehicle maker led by Dogecoin proselyte Elon Musk, has hinted that it may look to restore support for crypto payments soon.

In a September quarterly filing with the United States Securities and Exchanges Commission (SEC), the company said it “may in the future restart the practice of trading in cryptocurrencies,” suggesting that Tesla is considering resume support purchases made using digital assets.

The company also expressed its long-term belief in crypto assets as a store of value and a means of payment, stating:

“We believe in the long-term potential of digital assets both as an investment and as a liquid alternative to cash. “

Tesla previously accepted Bitcoin as a payment method for electric vehicle purchases between January and March of this year. The move is part of a wider adoption of Bitcoin by Tesla, with the company also investing $ 1.5 billion of its cash in BTC during the first quarter of 2021.

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However, support for Bitcoin was quickly suspended after the company was criticized for backing BTC despite perceptions that mining proof of work has a negative impact on the environment.

In June, CEO Elon Musk indicated that Tesla would consider resuming support for Bitcoin payments once at least half of the Bitcoin network’s hash rate is powered by renewables.

The report comes as Tesla’s market capitalization has surpassed $ 1 trillion after reaching a landmark deal with car rental company Hertz. Tesla’s share price also rose about $ 1,000 for the first time.

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Related: SHIB drops 20% as Elon Musk reveals he has none

Much to the dismay of Shiba Inu Coin holders, Elon Musk tweeted this weekend that he only holds Bitcoin, Ethereum, and Dogecoin.

On Monday, Twitter user Shiba Inu Holder tweeted Elon Musk asking how many SHIB he holds, to which Musk replied, “None.”

“Out of curiosity, I acquired ascii hash chains called ‘Bitcoin, Ethereum & Doge’. This is it “, he said added.

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