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Tesla may resume support for payments in BTC

October, 26 2021
watermark Economic news

Elon Musk, the head of the leading manufacturer of electric cars Tesla, hinted that he may soon restore support for payments in bitcoins.


In particular, in a report submitted to the U.S. Securities and Exchange Commission (SEC) for the third quarter, the company noted that «it may resume the practice of trading cryptocurrencies in the future.»


Tesla has already accepted cryptocurrency as a means of payment when buying electric cars at the beginning of this year (in the period from January to March). In addition, the company invested $1.5 billion from its treasury in bitcoin during the first quarter of 2021. However, after that, Tesla stopped supporting BTC in the wake of criticism of bitcoin mining, which has a negative impact on the environment.


Then Elon Musk said that Tesla would again consider resuming support for bitcoin payments if at least half of the network's hashrate would run on renewable energy sources.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.