Tesla’s quarterly report noted that the company may restart cryptocurrency payments for its products and services. In the Digital Assets section of the report, the company confirmed purchasing approximately $1.50 billion in Bitcoin towards the end of the third quarter.
Furthermore, the report also mentioned that while Tesla accepted Bitcoin payments until March, it suspended the practice in lieu of Bitcoin’s unsustainable nature. However, Musk-owned Tesla is back to basics, just in time when Bitcoin is outperforming since Bitcoin ETF implementation in the US.
“During the nine months ended September 30, 2021, we purchased an aggregate of $1.50 billion in bitcoin. In addition, during the three months ended March 31, 2021, we accepted bitcoin as a payment for sales of certain of our products in specified regions, subject to applicable laws, and suspended this practice in May 2021. We may in the future restart the practice of transacting in cryptocurrencies (“digital assets”) for
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