In Brief:
- Tesla hinted it might soon accept crypto for the purchase of vehicles.
- The company states its long-term belief in crypto assets as a store of value and a payment method
Tesla, Elon Musk’s electric vehicle company, has hinted that it might soon accept bitcoin as a mode of payment.
Tesla stated in a recent quarterly filing with the Securities and Exchange Commission (SEC) that it “may” resume trading in cryptocurrencies in the future, indicating its willingness to resume support purchases made in cryptocurrencies.
Moreover, the company stated its long-term belief in crypto assets as a store of value and a payment method, “We believe in the long term potential of digital assets both as an investment and also as a liquid alternative to cash.”
Between January and March of this year, Tesla had accepted Bitcoin for electric vehicle purchases. In spite of perceptions that proof-of-work mining has a negative impact on the environment, the firm quickly abandoned support for Bitcoin.
Tesla’s CEO, Elon Musk, said in June that Tesla may consider supporting Bitcoin payments once at least half of the network’s hash rate is powered by renewable energy.
