The American electric automobile company Tesla has hinted that it might soon resume receiving Bitcoin and other cryptocurrencies for payment.
The company declared its intention in its September quarterly filing with the United States Securities and Exchanges Commission that there are chances that it may soon restore support for crypto payments.
“We may in the future restart the practice of transacting in cryptocurrencies (“digital assets”) for our products and services,” the report read.
In the last 24 hours, bitcoin has been down by 1.78%, with a current price of $62,037 as of the time of writing this. Within 24 hours, bitcoin dropped to $61,825.83 low and $63,706.40 high. The trading volume of bitcoin in the last 24 hours is $1.05B. The current market capitalization of bitcoin is $1.17T. Currently, $18.85M bitcoins are in circulation.
Stats and Image from Coin Desk
Telsa invested a historic $1.5 billion in Bitcoin earlier this year. In addition, the firm simultaneously began receiving payment for some of its electric vehicles in Bitcoin.
However, the crypto payment option only lasted for three months and halted in March 2021, following concerns that Bitcoin mining has a negative impact on the environment.
CEO of Tesla Elon Musk said in June that “when there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions.”
Telsa’s investment in Bitcoin has generated enormous gains for the company. Its $1.5 billion investment has doubled in value following the recent price rally, which boosted the price of Bitcoin across the $60k mark.