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Tesla tells SEC they may return to accept Bitcoin as means of payment

Electric car maker Tesla may once again accept cryptocurrencies as a means of payment. The information was provided by the company in a report sent to the US Securities and Exchange Commission (SEC) on earnings and movements for the third quarter of 2021.

Tesla tells SEC they may return to accept Bitcoin as means of payment

In the document, Elon Musk’s company recalls that for three months, in a period that ended in May 2021, it accepted bitcoin as a means of payment for some products.

“We may in the future restart the practice of transacting in cryptocurrencies (“digital assets”) for our products and services”, they say.

Also in the same report, the company reaffirms the importance with which they see cryptocurrencies:

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

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Tesla showed that between the first day of 2021 and September 30, it purchased and received $1.5 billion of bitcoin.

“As of September 30, 2021, the carrying value of our digital assets held was $1.26 billion, which reflects cumulative impairments of $101 million. The fair market value of such digital assets held as of September 30, 2021 was $1.83 billion”

In addition, the company points out that it had losses of $101 million with the bitcoin reserve it maintains, but that it earned $128 million from the sale of BTC.

Tagged with: bitcoin, business, car, cars, crypto, cryptocurrencies, cryptocurrency, eletric vehicles, elon musk, finance, finances, money, musk, SEC, tech, technology, tesla, US
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