Months after American auto giant Tesla stopped accepting Bitcoin payments for its electric cars, it hinted at the possibility of continuing this pro-Bitcoin move in the near future.
The Palo Alto-based company announced in its quarterly performance report, in which it posted massive sales of over $ 13.7 billion.
In the filing, the company claimed it acquired $ 1.5 billion worth of BTC in the first quarter of the year and accepted the digital currency from the end to the second quarter through the third quarter.
“In the nine months ended September 30, 2021, we purchased a total of $ 1.50 billion in Bitcoin. Additionally, for the three months ended March 31, 2021, we accepted Bitcoin as payment for the sale of certain of our products in certain regions, subject to applicable laws, and suspended that practice in May 2021. ”
The submission also states: “We can resume transaction practice in the future Cryptocurrencies (“Digital Assets”) for our products and services. “
Tesla’s Chief Executive Officer, Elon Musk, announced that the company has stopped accepting Bitcoin due to the environmental impact of BTC mining. The noisy billionaire launched a series of attacks on Bitcoin’s energy usage back in the second quarter of the year, a move that contributed to the market’s price crash before the coin hit a new ATH last week.
Despite the $ 23 million impairment loss on its Bitcoin holdings reported in July, the electric car maker remains one of the top institutional investors with the biggest gains since buying Bitcoin. Shortly after the acquisition news got around, Daniel Ives, an analyst at Wedbush Securities, announced that Tesla was smiling to the bank after raking in around $ 1 billion in profits on its Bitcoin (BTC) investment.
The market has struck some equilibrium beyond Tesla and Elon Musk’s influence on BTC, and Bitcoin’s price has remained largely unaffected by news that the automaker may soon be accepting the coin for payments again.
Image source: Shutterstock