Latest News

Tesla Reveals Plans To Show Support For Crypto Payments

Tesla is the major electric vehicle manufacturer by Dogecoin supporter Elon Musk. Recently, Tesla reveals plans to restore support for crypto payments.

Furthermore, In a September quarterly filing with the U.S. Securities and Exchanges Commission (SEC). Notably, the firm notes it
“may in the future restart the practice of transacting in cryptocurrencies,”
Which of course, indicates Tesla is considering resuming support crypto purchases.

Also, Tesla expresses strong long-term support in crypto assets. The company goes on to describe it as a store of value and means of payment.

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

Recall, around January and March, The company starts accepting Bitcoin as payment for electric vehicle purchases. Also, Tesla makes an investment of $1.5 billion worth of its treasury into BTC during the first quarter of 2021.

Although, Tesla halts this move due to criticism on BTC’s proof-of-work mining having a negative impact on the environment.

Notwithstanding, CEO Elon Musk reveals plans to resume support for Bitcoin payments. Of course, at least half of Bitcoin’s network hash rate is run by renewable energy.

Additionally, this news is on the heels of Tesla’s market cap topping $1 trillion. This of course, is after securing a major deal with car rental company Hertz.
Notably, Tesla’s share price spikes to about $1k for the first time ever.

Recently, Tesla CEO Elon Musk reveals he doesn’t hold SHIB, stating he only holds Bitcoin, Ethereum and Dogecoin.

Recall, On Monday, Twitter user Shiba Inu Holder inquiries from Elon Musk about owning SHIB. Then, he replied: “none.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.