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Crypto payments at Tesla

Crypto payments at Tesla might be resumed as shown in the new Q3 SEC filing

Crypto payments at Tesla might be resumed as shown in the new quarterly filing to the   Securities and Exchange Commission (SEC).  Tesla might resume accepting BTC for its products and services as it stopped accepting crypto over environmental concerns rose by the CEO of Tesla, Elon Musk.

Crypto is such a lucrative and attractive market that global corporations like Tesla are unable to keep their hands out of it. BTC was trading at $35k when news of Crypto payments at tesla for certain products and services broke out and it took BTC to $48k for the first time in history. Tesla continued accepting Crypto payments for almost three months for certain products in the specified regions. Elon Musk announced to dump Crypto payments due to environmental concerns.

Crypto payments at Tesla might be resumed:

Tesla Inc. has filed a quarterly report with the US SEC on Monday, in which they have explained their Crypto payments at Tesla.  The company explained that during the nine months ended Sept. 20, it “purchased an aggregate of $1.50 billion in bitcoin.” In its Q3 earnings report, Tesla’s balance sheet shows bitcoin worth $1.26 billion, after reporting bitcoin-related impairments in the past two quarters.

Crypto payments at Tesla
The first page of the quarterly filing from the Tesla Inc. to the US SEC.

The report shows that Crypto payments at Tesla were stopped in May 2021 when certain issues were raised about the fossil fuel used in the Bitcoin mining process. They further added:

We may in the future restart the practice of transacting in cryptocurrencies (‘digital assets’) for our products and services.

The company has revisited its decision for Crypto payments at Tesla because the boss of Tesla was assured that green energy will be used for Bitcoin mining. The Tesla boos said that Crypto payments will be resumed after the confirmation of the 50% green energy usage by the miners with a positive future trend. These are very surprising news coming out for the crypto world.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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