Tesla Considering Start Supporting Crypto Payments Again

Electric vehicle company Tesla is considering resuming cryptocurrency payments.

Tesla’s recent quarterly report to the US Securities and Exchange Commission (SEC) said Tesla “may resume the practice of cryptocurrency transactions in the future.”

The report also noted that Tesla management believes in the long-term potential of digital assets, both as an investment and as a liquid alternative to cash.

Tesla, an electric car company, accepted Bitcoin as payment for car purchases between January and March 2021. But after the criticism flared up in the world towards the not environmentally friendly process of mining Bitcoins, it stopped supporting cryptocurrency payments.

In June, CEO Elon Musk said Tesla would consider resuming support for Bitcoin payments if at least half of the world’s miners use renewable electricity to mine BTC.

But in July, Musk said that even given the improvement in the environmentally friendly situation in the field of Bitcoin mining, Tesla will not yet rush in resuming accepting cryptocurrency payments for its products.

At the moment, it remains unknown when cryptocurrency supporters will be able to buy a well-known electric car for Bitcoin or other types of cryptocurrencies.

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