Tesla may soon bring back Bitcoin payments

Tesla bitcoin

Tesla looks like it may soon bring back the ability to pay for your new car with Bitcoin as references to the cryptocurrency have been discovered in the source code of the website.

Tesla first dabbled in the world of cryptocurrency with a $1.5 billion purchase of Bitcoin in 2021. The investment grew quickly with the automaker making over $1.5 billion thanks to a meteoric rise in the price of Bitcoin in the weeks following the announcement.

Not long after, Tesla added the option for US customers to pay for their new car purchase with Bitcoin, becoming the first automaker in the world to do so. The payment option was short lived however as it was removed from the website two months after it was introduced. CEO Elon Musk justified the decision by releasing a prepared statement on Twitter, citing concerns over the use of fossil fuels in Bitcoin mining, with his brother Kimbal later saying they were “very ignorant” and had no idea the environmental impact.

In his statement Elon did leave the door open for Bitcoin payments to return, saying it would happen when “mining transitions to more sustainable energy.” In the two years since then things must have changed as Bitcoin has appeared in the source code of the payment section of Tesla’s website.

Since the purchase in 2021, Tesla has sold the majority of their Bitcoin holdings, and based on the price at the time of that sale and the current price, the company is likely fairly close to even on their investment.

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About Darryn John 6327 Articles
Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca