{"id":13630,"date":"2021-10-27T02:54:09","date_gmt":"2021-10-27T02:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/tesla-informs-sec-it-may-restart-transacting-in-cryptocurrencies\/"},"modified":"2021-10-27T02:54:09","modified_gmt":"2021-10-27T02:54:09","slug":"tesla-informs-sec-it-may-restart-transacting-in-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/tesla-informs-sec-it-may-restart-transacting-in-cryptocurrencies\/","title":{"rendered":"Tesla Informs SEC It May Restart Transacting in Cryptocurrencies"},"content":{"rendered":"

Elon Musk\u2019s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for its products and services. Tesla suspended accepting bitcoin in May, citing environmental concerns.<\/strong><\/p>\n

Tesla May Resume Accepting Bitcoin, SEC Filing Shows<\/h2>\n

Tesla Inc. filed a quarterly report<\/a> with the U.S. Securities and Exchange Commission (SEC) Monday.<\/p>\n

The company explained that during the nine months ended Sept. 20, it \u201cpurchased an aggregate of $1.50 billion in bitcoin.\u201d In its Q3 earnings report, Tesla\u2019s balance sheet shows<\/a> bitcoin worth $1.26 billion, after reporting bitcoin-related impairments in the past two quarters.<\/p>\n

The SEC filing further states that during the three months ended March 31, Tesla \u201caccepted bitcoin<\/a> as a payment for sales of certain of our products in specified regions, subject to applicable laws.\u201d However, the company noted that it \u201csuspended this practice in May 2021.\u201d Tesla continued:<\/p>\n

We may in the future restart the practice of transacting in cryptocurrencies (\u2018digital assets\u2019) for our products and services.<\/p>\n

The electric car company, whose market cap hit $1 trillion<\/a> for the first time this week, explained<\/a> that it \u201csuspended vehicle purchases using bitcoin\u201d due to concerns \u201cabout rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.\u201d<\/p>\n

Tesla CEO Elon Musk then tried to convince bitcoin miners to use renewable energy. In May, he spoke with North American bitcoin miners, after which they formed a Bitcoin Mining Council<\/a> to \u201cpromote energy usage transparency & accelerate sustainability initiatives worldwide.\u201d<\/p>\n

In June, Musk tweeted<\/a>: \u201cWhen there\u2019s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions.\u201d<\/p>\n

At the \u201cB Word\u201d event in July, he said<\/a>: \u201cIt looks like Bitcoin is shifting a lot more toward renewables and a bunch of the heavy-duty coal plants that were being used \u2026 have been shut down, especially in China.\u201d He added: \u201cI want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number. If so, Tesla will most likely resume accepting bitcoin.\u201d<\/p>\n

While Tesla only accepted bitcoin, Musk conducted a poll<\/a> on Twitter in May asking his followers if Tesla should accept dogecoin (DOGE). 78.2% of more than 3.9 million votes were in favor of Tesla accepting the meme cryptocurrency. Musk recently confirmed that he personally<\/a> owns bitcoin, ether, and dogecoin. Meanwhile, his companies, Tesla and Spacex, only own bitcoin.<\/p>\n

Do you think Tesla will accept bitcoin again soon and do you think the company will also accept dogecoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nFeatured, Elon Musk, Tesla, tesla accepts bitcoin, tesla bitcoin, tesla bitcoins, tesla crypto, tesla cryptocurrency, tesla doge, tesla dogecoin, tesla suspends bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

Elon Musk\u2019s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for its products and services. Tesla suspended accepting bitcoin in May, citing environmental concerns. Tesla May Resume Accepting Bitcoin, SEC Filing Shows Tesla Inc. filed a…<\/p>\n","protected":false},"author":0,"featured_media":13631,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13630"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13630"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13631"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}