Tesla Signals Coming Soon to Accept Crypto Payments Again

A few months ago, Tesla removed the payment in Bitcoin, claiming that cryptocurrency transactions caused many environmental problems. But recently, it seems that the world’s leading electric vehicle manufacturer is preparing to support cryptocurrency payments once again.

In a quarterly filing with the U.S. Securities and Exchange Commission (SEC) last September, Tesla said it “ may restart crypto trading in the future ” – a sign for See cryptocurrency payments coming back on the company’s website.

The company also expressed a long-standing belief in crypto-assets as a convenient means of storage and payment, saying: “ We believe in the long-term potential of digital assets such as an investment and also as a liquidity alternative to cash .”

Tesla previously accepted Bitcoin for electric car purchases earlier this year. The move comes as part of Tesla’s push to accept Bitcoin as the company previously invested $1.5 billion of its funds in the cryptocurrency.

However, support for payments in Bitcoin was also quickly pushed aside as the electric car maker faced criticism for the negative environmental impact of its proof-of-mining mechanism. -work of this cryptocurrency consumes too much power.

In June, Musk hinted that Tesla would consider supporting Bitcoin payments again when at least half of Bitcoin is mined with renewable energy.

Currently, although there are no reports that Bitcoin mining is becoming “greener”, but Tesla has signaled that it is ready to accept digital payments again. However, this can be done with many other cryptocurrencies with much smaller emissions than Bitcoin, such as DogeCoin – one of Elon Musk’s favorite cryptocurrencies.

The report comes at a time when Tesla’s market capitalization has just hit the $1 trillion mark for the first time since the announcement of an order for 100,000 Tesla cars from car rental company Hertz. This caused the car company’s share price to skyrocket by 13% in a single trading day.

Refer to CoinTelegraph