Is Tesla Looking To Restore Crypto Payments – SEC Filing Insinuates

The CEO of SpaceX and Tesla, Elon Musk, might be soon looking to restore support for crypto payments.

In a September quarterly filing with the U.S. Securities and Exchanges Commission (SEC), the firm stated it “may in the future restart the practice of transacting in cryptocurrencies,” which hints that Tesla might be considering to resume support for purchases made in digital assets.

Tesla also confirmed its long-term belief in crypto assets as a store of value and means of payment, stating:

“We believe in the long term potential of digital assets both as an investment and also as a liquid alternative to cash.”

Earlier this year Tesla started to accept Bitcoin as payment for electric vehicle purchases. The move came as part of a broader Bitcoin embrace from Tesla, with the firm that still currently holds $1.26 billion worth of BTC in its balance sheet.

Tesla’s support for Bitcoin payments however, didn’t last long, after the firm faced criticism for supporting BTC despite perceptions that proof-of-work mining has a negative impact on the environment.

Musk indicated in June that Tesla could consider resuming support for Bitcoin payments once at least half of the Bitcoin’s network hash rate is powered by renewable energy.

The report comes amid news that Tesla’s market cap topped $1 trillion after securing a landmark deal with car rental company Hertz. Tesla’s share price also rallied about $1k for the first time ever.

Musk tweeted this weekend that he only holds three crypto assets himseldf: Bitcoin, Ethereum and Dogecoin.

On Monday, Twitter user Shiba Inu Holder tweeted to Elon Musk asking how much SHIB he is holding, to which Musk replied: “none.”

“Out of curiosity, I acquired some ascii hash strings called ‘Bitcoin, Ethereum & Doge’. That’s it,” he tweeted.