Market adoption has increased and Tesla may be supporting cryptocurrency payments again - Bitxcon
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Market adoption has increased and Tesla may be supporting cr...
Cryptocurrency, News

Market adoption has increased and Tesla may be supporting cryptocurrency payments again

The electric car maker Tesla has hinted at an option to accept cryptocurrency in the future. Following the suspension earlier in the year.

The market for cryptocurrency has grown significantly in recent months, and Tesla is considering possibility of accepting crypto once more.

Tesla may begin to accept cryptocurrency in the near future

Tesla is the world’s largest producer of electric vehicles is looking into possibilities of using cryptocurrency for its products. It’s a new development shortly after the company halted its BTC payments option at the beginning of the year.

In a report to the SEC for the third quarter of this year, the company stated it might reintroduce the acceptance of Bitcoin as well as other cryptocurrencies. Tesla hasn’t said which cryptocurrencies it will accept however, the most popular alternatives would be Dogecoin or Bitcoin.

Tesla accepted Bitcoin as a method of payment for electric vehicles at the beginning of this year. However, it ended the payment option in May, declaring that it was concerned about the negative impact of Bitcoin mining on the planet.

It was in the month of June that Bitcoin announced it was ready to begin accepting Bitcoin in the future if miners committed to using renewable energy for mining the cryptocurrency. Utilizing renewable energy Bitcoin’s energy use will not have any negative impact on the environment.

Another alternative to crypto payments is Dogecoin. Tesla Chief Executive Elon Musk is a big lover of crypto and is in discussion with the possibility of using DOGE as payment for electric automobiles. A Twitter poll found that the majority of his followers are prepared to purchase Tesla vehicles using DOGE.

Tesla still owns Bitcoin

Although he has criticized Bitcoin because of its high power consumption, Elon Musk revealed in July that Tesla and SpaceX have bitcoin in their accounts. Elon Musk acknowledged that he has personal possessions of BTC, ETH and DOGE.

Tesla is a top corporate Bitcoin holder after purchasing $1 billion worth of bitcoin earlier in the year. Bitcoin is trading at or above the level of 63.000 level following the record-breaking high of $ 67.000 this week. The most popular cryptocurrency has seen a rebound over the past few weeks and may climb in the next weeks and days.

What do you think? Will Tesla’s actions cause the market to rise again, and cause BTC to achieve a new ATH? Tell us in the comment section below.

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