Telsa hints it may soon restore support for cryptocurrency payments

Tesla, the massive electric car maker led by Dogecoin advocate Elon Musk, has hinted that it may soon restore support for cryptocurrency payments.

In a quarterly filing with the U.S. Securities and Exchange Commission (SEC) in September, the company said it "may restart the practice of trading in cryptocurrencies in the future," suggesting that Tesla is considering resuming restrictions on purchases made using digital assets. support.

The firm also expressed its long-term confidence in crypto assets as a store of value and means of payment, claiming:

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

Previously, Tesla accepted bitcoin as a payment method for the purchase of electric vehicles from January to March this year. The move is part of Tesla's broader support for Bitcoin, with the company also buying $1.5 billion worth of BTC in the first quarter of 2021.

However, Proof-of-Work mining was believed to have a negative impact on the environment, and support for Bitcoin was quickly shelved after the company faced criticism for supporting it.

In June, Tesla CEO Elon Musk said Tesla would consider resuming support for bitcoin payments once at least half of bitcoin's network computing power is powered by renewable energy.

The report comes amid news that Tesla's market value topped $1 trillion following a landmark deal with car rental company Hertz. Shares of Tesla also rose about $1,000 for the first time.

Shiba Inu holders were disappointed when Elon Musk tweeted this weekend that he only holds Bitcoin, Ethereum and Dogecoin.

On Monday, Twitter user Shiba Inu Holder asked Elon Musk on Twitter how much SHIB he held, to which Musk replied: "No."

He added: "Out of curiosity I bought some strings of ascii hashes called 'bitcoin, ethereum and dogecoin'. That's it."

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