Cryptheory

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Tesla is likely to restore support for cryptocurrency payments

2 min read

 

Tesla may again support BTC
Source: Shutterstock, Orpheus FX

Company management Tesla led by Elon Musk indicated that we may see support for cryptocurrency payments again. If this happens, it will most likely affect the growth of BTC, which will be followed by altcoins.

Tesla and payment by cryptocurrencies

Will we see a significant event from the electric car manufacturer again? Supports a big fan of Dogecoin, Elon Musk, payment by cryptocurrencies? According to the latest statements, this may soon be a reality. Tesla believes that cryptocurrencies can be a suitable alternative to cash in the long run.

A possible resumption of support for payments in cryptocurrencies has emerged in the Quarterly Report to the U.S. Securities and Exchange Commission, SEC.

“Transactions in cryptocurrencies may resume in the future. We believe in the long-term potential of digital assets as an investment and also as a liquid alternative to cash. “

We all know very well how the market reacted when Tesla supported payments with cryptocurrencies. This event was part of a huge bullrun and wider adoption of the BTC. The company then invested to BTC $ 1.5 billion. However, this condition did not last long. There has been huge media pressure on BTC, for the sake of it environmental pollution during mining. Musk was thus forced to intervene and cancel BTC support.

In any case, Tesla is experiencing a relatively positive period at a time of great crisis, when the market lacks a huge amount of components and raw materials. The company’s market value exceeded $ 1 trillion. This is due to significant cooperation with the company Hertz, which deals with car rental.

How to Trade on Binance (2021)

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published.