comscore Tesla is likely to accept Bitcoin again as payments: Report
News

Tesla is likely to accept Bitcoin again as payments,

According to a document filed in relation to the company's earnings report this week, Tesla detailed their holding of $1.5 billion in Bitcoin and said it might consider accepting cryptocurrency as payment.

  • Published: October 28, 2021 5:07 PM IST
elon musk

Electric car company Tesla will most likely resume taking bitcoin as payments in the future, company said in a regulatory filing. Also Read - Samsung, Panasonic, Tesla and more looking to shift to cheaper battery alternatives

According to a document filed in relation to the company’s earnings report this week, Tesla detailed their holding of $1.5 billion in Bitcoin and said it might consider accepting cryptocurrency as payment. Also Read - Tesla places bulk order for ‘Magic Box Inverter’ from Indian start-up

According to its third quarterly report filing with the US Securities and Exchange Commission (SEC), Tesla could restart accepting cryptocurrency payments. Also Read - PUBG: New State Review: Can it replace BGMI? The answer is yes!

The electric car-maker noted that during the nine months that ended September 30, the company purchased an aggregate of $1.5 billion in Bitcoin.

Tesla had suspended cryptocurrency transactions in May citing environmental concerns.

Musk then promised the company will resume Bitcoin transactions once it confirms there is reasonable clean energy usage by miners.

“When there’s confirmation of reasonable (50 per cent) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk noted.

Earlier this week, Tesla reached the $1 trillion market cap for the first time.

It becomes the fifth US company to join the $1 trillion club, after Apple, Microsoft, Amazon, and Alphabet.

The rally came after the US-based rental car company Hertz said it has ordered 1,00,000 Tesla vehicles (worth at least $4.2 billion) by the end of 2022 as part of an ambitious plan to electrify its fleet.

The move includes new EV charging infrastructure across the company’s global operations.

The price of Bitcoin had seen a decline of 3.88 per cent in the last 24 hours, falling below the $60,000 level.

(Inputs from IANS)

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: October 28, 2021 5:07 PM IST



new arrivals in india

Best Sellers