Tesla – the electric car company headed by South African entrepreneur and billionaire Elon Musk – has hinted in a recent filing that it may be open to accepting bitcoin and crypto payments for vehicles again in the coming future.
Elon Musk Is At It Again Regarding BTC
In a statement, Tesla explained:
We believe in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash.
The news comes at a strange time when many once-anti crypto entities suddenly appear to be changing their minds. A similar story recently emerged regarding China, which over the past few months, has been particularly unkind to bitcoin and many of its digital counterparts. The nation first made things rough for bitcoin miners by stating that it was on a mission to become more carbon neutral. As a result, many miners were forced to abandon their posts and find new turf for their businesses.
But things didn’t stop there. China then went on to declare all bitcoin and crypto transactions and related activities illegal. This brought bitcoin to a complete halt in the country, and the currency’s price suffered heavily during this long-winded period of upheaval.
However, things may be turning around in China. The country is now opening a window for public comment regarding several banned or discontinued industries within its borders, one of which is bitcoin and crypto mining. The window will remain open through the end of November, in which case a final decision regarding bitcoin’s future in China will be made.
Tesla was all set to accept crypto payments for cars and related products early in the year. However, this decision was rescinded just weeks later when Musk announced that he couldn’t condone the bitcoin space unless miners were willing to lower their emissions and put energy to greater use. He claimed that the planet was being harmed by bitcoin mining, and thus he couldn’t promote the bitcoin agenda if miners weren’t going to be more careful.
The asset’s price fell almost immediately, and many began blaming Musk for allegedly manipulating the price of the asset and moving in the wrong direction. Now, it looks like the entrepreneur and his company have heard these complaints and are taking them to heart…
What’s Behind the Sudden Change?
Either that or they’re just really enthused by the idea of BTC recently reaching a new all-time high of approximately $66,000 and think there’s a lot of money to be made. At press time, bitcoin has fallen a bit and is now trading for just over $62,000 per unit.
Not too long ago, Musk was announced to be the world’s richest person. Valued at more than $200 billion, the entrepreneur became one of bitcoin’s biggest proponents when he announced a $1.5 billion purchase of the asset in February of this year.