By Shelly Melancon (Switzerland)
Based on the electric car manufacturer’s latest filing with the US SEC, it is likely that the company might resume crypto payment options for its electric cars. The firm further disclosed its belief in the long-term value of digital assets, especially in terms of investment and a fiat option.
Tesla And Bitcoin Payment Option
Tesla accepted bitcoin payment for its electric cars in the first quarter of this year following a purchase of $1.5m worth of BTC at that time. It made the investment as proof of the adoption of digital assets by the company. But, the company renounced their decision after the public backlash that the BTC mining’s proof of work technology is harming the environment.
Four months ago, Tesla CEO and billionaire, Elon Musk, revealed that the company might reverse its decision and start accepting bitcoin payments provided there is proof that renewable energy powers over 50% of the network’s hash rate. This news would also improve Tesla’s market rating and share price, which received a significant boost recently following its new deal with Hertz car rental firm. Both news pushed Tesla’s share price to exceed $1k (a historic feat) and might remain so for the foreseeable future.
Musk Reveals He Is Not A Shiba Inu Holder
Yesterday, eccentric electric car billionaire, Elon Musk, took to Twitter and revealed that he doesn’t have any Shiba Inu holdings. His announcement caused a 22% deep in the price of the meme-themed cryptocurrency.
Also read:Before Musk’s disclosure, SHIB had set a new peak record, rallying by over 500% since the beginning of this month. The token price’s bullishness caused a Twitter user with the handle (@Shibainuholder) to ask the billionaire for the amount of SHIB he holds, and he replied with “none.”
The coin lost an additional 10% despite undergoing a price correction as some traders look to take profits after setting a new peak price. SHIB price continues to fluctuate between $0.000036 and $0.000041 as of this writing.
Shiba Inu’s Struggle For Acceptance
The Shiba Inu community has differed in their reactions to Musk’s response, with one of them suggesting that no one should pester influential figures when the community token is bullish or bearish. Instead of discussing Shiba Inu-related matters, Musk only emphasized the benefits of Dogecoin.
The billionaire’s tweet implied that the majority of Doge and SpaceX staff own Doge. It makes Doge seem like the people’s crypto, especially as these holders don’t possess top financial analysis skills. Despite the recent unpleasant news about the SHIB token, a French restaurant has started supporting the SHIB payment option.
Stickers on the restaurant’s doors (known as Le Bistrot D’eleonore Et Maxence) reveal this much. The restaurant is close to the popular St. Francis Xavier Catholic Church in Paris. SHIB’s bullish price action this month has caused its growing adoption in various places.
Before this French restaurant, a Buenos Aires-based real estate agency has disclosed that it now supports the SHIB payment option. The virtual currency is still close to its peak price despite the recent unpleasant events.
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