Telsa hints it may soon resume support for crypto payments
Tesla, the major electric vehicle manufacturer led by Elon Musk, has hinted that crypto payment functionality may be restored shortly.
Tesla noted in a September quarterly filing with the Securities and Exchange Commission (SEC) that it “may in the future restart the practice of trading in cryptocurrencies,” implying that the company is considering resuming cryptocurrency support purchases.
Tesla previously accepted Bitcoin as payment for electric vehicle purchases between January and March of this year. The move came as part of a broader Bitcoin embrace from Tesla, with the firm also investing $1.5 billion worth of its treasury into BTC during the first quarter of 2021.
However, support for Bitcoin was quickly stopped after the firm faced criticism for supporting BTC despite perceptions that proof-of-work mining has a negative impact on the environment.