Tesla notified the US Securities and Exchange Commission that it may restart cryptocurrency trading – Bitcoin Featured News

Elon Musk’s electric vehicle company Tesla notified the US Securities and Exchange Commission (SEC) in a quarterly document that it may restart cryptocurrency trading for its products and services. Tesla cited environmental issues as the suspension of accepting Bitcoin in May.

Tesla may resume accepting Bitcoin, SEC documents show

Tesla submitted a quarterly report report Cooperated with the US Securities and Exchange Commission (SEC) on Monday.

The company explained that in the nine months ended September 20, it “purchased a total of $1.5 billion in Bitcoin.”In the third quarter earnings report, Tesla’s balance sheet show Bitcoin is worth $1.26 billion, and Bitcoin-related impairments have been reported in the past two quarters.

The SEC filing further stated that in the three months ended March 31, Tesla “Accept bitcoin As payment for the sale of some of our products in certain regions, it is subject to applicable laws. However, the company noted that it “suspended this practice in May 2021.” Tesla continued:

We may restart cryptocurrency (“digital assets”) transactions for our products and services in the future.

Electric car company whose market value has been hit $1 trillion For the first time this week, explain Fearing that “the use of fossil fuels in Bitcoin mining and trading is rapidly increasing, especially coal, which emits the most serious emissions of all fuels,” it “suspended the use of Bitcoin to purchase vehicles”.

Tesla CEO Elon Musk then tried to persuade Bitcoin miners to use renewable energy. In May, he had a conversation with North American Bitcoin miners, after which they established a Bitcoin Mining Council To “promote transparency in energy use and accelerate global sustainable development plans.”

June, Musk Tweet: “Tesla will resume allowing bitcoin transactions when it is confirmed that miners with positive future trends (about 50%) use clean energy reasonably.”

In the “B Word” event in July, he Said“It seems that Bitcoin is shifting more to renewable energy, and some heavy coal-fired power plants that are in use… have been closed, especially in China.” He added: “I want to do more due diligence in order to It is confirmed that the percentage of renewable energy use is likely to reach or exceed 50%, and this number has an increasing trend. If so, Tesla is likely to resume accepting Bitcoin.”

Although Tesla only accepts Bitcoin, Musk did polling Asked his follower Tesla on Twitter in May whether he should accept Dogecoin (DOGE). 78.2% of more than 3.9 million votes supported Tesla’s acceptance of meme cryptocurrency.Musk recently confirmed that he personally Own Bitcoin, Ethereum and Dogecoin. At the same time, his companies, Tesla and SpaceX, only own Bitcoin.

Do you think Tesla will accept Bitcoin again soon? Do you think the company will also accept Dogecoin? Let us know in the comments section below.

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