Tesla could accept Bitcoin payments again

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According to his third quarterly report, which was submitted to the US stock exchange supervisory authority Securities and Exchange Commission, Tesla could again accept payments in cryptocurrency.

es that the company in the nine months September 30 bought a total of $ 1.5 billion on BTC. By the end of March, she accepted Bitcoin as a payment for the sale of certain products in certain regions, but exhibited this practice in May 2021.

"We may be able to resume transaction practice in cryptocurrencies (" digital assets ") for our products and services in the future."

The submission reported that the “fair market value” of Tesla's digital assets was $ 1.83 billion on September 30th. The company added:

"We believe in the long -term potential of digital assets both as an investment and as a liquid alternative to cash."

Tesla earned $ 1.3 billion with BTC

in his Q3-Financing Test report , Tesla reported that he would have to make an impairment of $ 51 million in order to take into account its existing BTC stocks.

The accounting rules for digital assets state that if the price of a asset drops during the period, the Companies must report it as an impairment . However, if the price increases, this is not shown as a profit in the balance sheet. Bitcoin prices were between $ 30,000 and $ 52.7,000 in a quarter, but ended at $ 41.5,000.

After Tesla's great entry into Bitcoin at the beginning of the year, the company sold 10 % of its investments in the second quarter, which increased the profit of this quarter by $ 272 million.

according to bitcoin-treasuries , Tesla currently holds around 43,200 BTC worth an estimated 2.7 billion US dollar at current prices. Even after the sale of 10 % of its stock, the company has achieved almost $ 1.3 billion in the investment that have not been realized.

According to the website,

Tesla is the second largest corporate owner of Bitcoin behind Microstrategy, which holds around 114,000 BTC worth 7.4 billion US dollars at current prices. The payment company Square is third in the list of around 8,000 bitcoins.

Green Bitcoin accepted

in July, Elon Musk, CEO from Tesla, the company would be again Accept As soon as Bitcoin mining operations use more than 50% of renewable energy.

"But as long as there is a long -term trend towards using renewable energies by the municipality, Tesla can support this."

The trend has occurred since the Exodus from China, which used a lot of coal stream for the mining. Most of the newly moved Bitcoin mining companies in the USA use renewable energies.

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