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Tesla hints at resumption of accepting payments in cryptocurrency


Tesla, an American electric vehicle and clean energy manufacturer, headed by Elon Musk, may resume the practice of accepting cryptocurrencies as a means of payment for its products in the future. A hint of this is contained in the reports for the U.S. Securities and Exchange Commission (SEC).

“We believe in the long-term potential of digital assets both as investments and as a liquid alternative to cash,” the document says.

Earlier, the capitalization of Tesla exceeded $1 trillion for the first time. Shares of the electric car manufacturer rose amid news of agreements with the car rental company Hertz. The latter placed an order for 100,000 Tesla, according to Bloomberg. The transaction amount was $4.2 billion.

Bitcoin and Tesla

Previously in February 2021, Tesla invested $1.5 billion in Bitcoin, the average purchase price was $34,963. Bitcoin price surpassed $47,000 after this news.

Later in April, the billionaire announced the start of sales of electric cars for the first cryptocurrency in the United States. On May 13, Tesla suspended accepting BTC due to concerns about the environmental friendliness of its mining. Thus, the businessman collapsed the cryptocurrency rate by 17%. At the same time, the company said that it would not sell its Bitcoins and use them for operations.

“We are concerned about the rapid increase in the use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions among all fuels,” the statement said.

Investments in the first cryptocurrency

In the summer, Musk said that Tesla will resume selling electric cars for Bitcoin; when it confirms that at least half of the miners have switched to renewable energy.

At the same time, the CEO of BTC.TOP pool, Jiang Zhuoer, drew the attention of the entrepreneur. That the condition was fulfilled as a result of the prohibitive measures of the Chinese authorities regarding mining.

Recall that at the end of the third quarter of 2021, Tesla had a record in terms of profitability and revenue. The electric car manufacturer’s business revenues increased by 26.6%. But its investments in the first cryptocurrency depreciated by $51 million at the end of the reporting period.

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