Electric vehicle maker Tesla Inc. TSLA has hinted it may restart transactions in cryptocurrencies such as Bitcoin BTC/USD in the future.
What Happened: Tesla said in a September quarterly filing with the U.S. Securities and Exchange Commission that it may in the future restart the practice of transacting in cryptocurrencies for its products and services.
“We believe in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash,” the Elon Musk-led company said.
The company suspended vehicle purchases with Bitcoin in May, citing concerns about the cryptocurrency’s environmental impact.
Musk, a big proponent of Dogecoin DOGE/USD and other cryptocurrencies, has said that Tesla might restart Bitcoin transactions if the cryptocurrency became more reliant on renewable energy.
Price Action: Tesla shares closed almost 12.7% higher in Monday’s trading at $1,024.86.
Bitcoin is down almost 0.4% during the last 24 hours, trading at $62,272.84 at press time.
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