Electric car manufacturer Tesla (Tesla shares - ticker TLSA) hinted at the possibility of accepting cryptocurrency payments again after suspending the option earlier this year.
The cryptocurrency market has grown in recent months and Tesla is reconsidering the possibility of accepting cryptocurrency payments again.
Tesla could start accepting cryptocurrencies again
Tesla, the world's leading manufacturer of electric vehicles, is exploring the possibility of accepting cryptocurrencies for its products again. This latest development comes after the company suspended the BTC payment option earlier this year.
In a filing with the SEC for the third quarter of the year, the company said it could restart the practice of accepting Bitcoin and other cryptocurrencies again. Tesla hasn't specified which cryptocurrencies it might accept again, but the most favorable options are Dogecoin and Bitcoin.
Tesla was accepting Bitcoin as payment for its electric vehicles earlier this year. However, it suspended the option in May, saying it was concerned about the impact of Bitcoin mining on the environment.
In June, the company said it was willing to resume accepting Bitcoin again if miners commit to using renewable energy to mine the cryptocurrency. By using renewable energy, Bitcoin's high energy consumption will have no negative effects on the environment.
Another crypto payment option is Dogecoin. Tesla CEO Elon Musk is a huge fan of cryptocurrency and has been discussing the possibility of accepting it as payment for his electric vehicles. A Twitter survey revealed that the majority of his followers are willing to pay for Tesla vehicles with DOGE.
Tesla still owns Bitcoin
Despite attacking Bitcoin for its high energy consumption, Elon Musk revealed in July that Tesla and SpaceX still hold bitcoin on their balance sheets. He admitted that he personally owns BTC, ETH and DOGE.
Tesla remains a leading corporate Bitcoin holder after buying $ 1,5 billion in bitcoin earlier this year. Bitcoin is trading above the $ 63.000 level after hitting a new all-time high above $ 67.000 last week. The leading cryptocurrency has recovered in recent weeks and could rise in the coming days and weeks.
And what do you think of it? Could Tesla's move cause markets to surge again and get BTC to reach a new ATH? Let us know in the comments section below.
