Tesla plans to accept Bitcoin (BTC) as a payment method again – Cryptoast

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Tesla confirms its intention to accept payments in Bitcoin (BTC)

You’re here consider accepting payments again in Bitcoin (BTC). In his quarterly filing with the Securities and Exchange Commission (SEC), the U.S. federal regulator and supervisor of financial markets, the automaker has reaffirmed its interest in cryptocurrencies.

“We have accepted Bitcoin as a means of payment for the sale of some of our products in specified regions, subject to applicable laws, and we have suspended this practice in May 2021. We may in the future resume the practice of transactions in cryptocurrencies (“digital assets”) for our products and services ” , Tesla says in the filing.

The company, which has just overtaken the 1000 billion market capitalization, does not say more about the return of this payment method. Last March, Tesla had accepted Bitcoin payments in the United States for several weeks before changing his mind.

Under pressure from shareholders, the firm founded by Elon Musk was forced to suspend payments in crypto-assets. To justify his turnaround, Tesla put forward ecological concerns. The electric car maker said it was concerned about the environmental impact of Bitcoin mining.

A few weeks later, however, Elon Musk pledged to unblock Bitcoin payments as soon as the mining will be based mainly on green and renewable energy. To accelerate the transition, the entrepreneur has moreover met several North American miners under the leadership of Michael Saylor, CEO of MicroStrategy and steadfast supporter of cryptocurrencies.

Shortly after this exchange, the billionaire admitted that the mining industry had already made significant efforts to reduce your carbon footprint. Elon Musk then hinted that Tesla would quickly resume cryptocurrency payments. Note that a recent study assures us that Bitcoin will only represent 0.9% of all carbon emissions in 2030.

? Also read: Elon Musk responds to pump & dump accusations, talks about the future of Bitcoin at Tesla

Tesla continues to believe in the future of cryptocurrency

More generally, Tesla’s quarterly filing with the American markets policeman confirms company confidence into the future of digital currencies. Despite the turnaround last May, Tesla continues to openly proclaim his interest in the oldest cryptocurrency.

“We believe in the long-term potential of digital assets both as an investment and also as an alternative to cash”, Tesla details.

For memory, Tesla invested $ 1.5 billion in Bitcoin beginning of the year. Thanks to the rise in the price of Bitcoin, the company’s cryptocurrency reserves have gained in value in recent months. Tesla thus succeeded in clearing a billion dollar capital gain on its initial investment.

? On the same subject – Screening – What if… Tesla sells all of its bitcoins (BTC)?

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About the Author : Florian Bayard