Earlier this year, at the height of Elon Musk’s enthusiasm for bitcoin (BTC) and other cryptocurrencies, Tesla began accepting crypto payments for its products. However, it soon suspended operations due to environmental concerns surrounding digital asset mining. Now, the company plans to return to the project.
The Musk- led electric car company made a new filing with the United States Securities and Exchange Commission (SEC), suggesting that it could reinstate the crypto payments option. Furthermore, it confirmed the holding of about 43,200 BTC on its balance sheet.
“It is possible that in the future we will restart the practice of conducting transactions in cryptocurrencies for our products and services, ” reads the presentation of Tesla. And he adds: “We believe in the long-term potential of digital assets as an investment and also as a liquid alternative to cash.”
In the first half of the year, the company invested $ 1.5 billion in the leading cryptocurrency . Currently, the BTC acquired represents about 2.7 billion, so that financial strategy alone meant a profit of 1.3 billion for the company.
A few months ago, Musk himself had indicated that Tesla could once again accept BTC as a means of payment, if the industry began to opt for more sustainable alternatives. “As long as there is a long-term trend toward community use of renewable energy, Tesla can support that, ” said the mogul about three months ago.
In this way, Musk begins to change his image for the crypto community and the versions of those who pointed out that his movements were a strategy to push the industry towards renewable energies gain strength.