Tesla may resume accepting cryptocurrency. Who else is following her example?

Billionaire Elon Musk's electric car manufacturer Tesla announced its plans to resume accepting cryptocurrency as a means of payment in the foreseeable future, because it considers these assets very promising from an investment point of view and views them as an alternative to regular money.

This news has caused great enthusiasm among crypto investors, because Tesla is not the only company showing an active interest in cryptocurrencies. Who else is interested in digital currencies and how this affects the cryptocurrency market?

Restored trust

Since March 2021, Tesla has already accepted Bitcoin as payment for the electric cars it produced. At the same time, the company purchased this digital currency for almost $1.5 billion, which pushed the Bitcoin rate up by 10%. 

Source: twitter.com

However, Tesla subsequently reported temporary cessation of accepting bitcoins. This happened after Musk criticized the cryptocurrency for its unenvironmentally friendly way of mining it. However, he promised to resume accepting Bitcoin as soon as miners switch to less environmentally harmful mining methods.

Source: twitter.com

Now in quarterly Tesla's report sent to the US Securities and Exchange Commission (SEC) states that the company believes in the long-term potential of cryptocurrency. This was perceived by investors as a signal that Tesla would soon begin accepting Bitcoin as payment again, and had a positive effect on the dynamics of the Bitcoin price.

Bitcoin price dynamics in October

Source: app.stormgain.com

Not only Tesla

Recently, several large companies have come out in support of digital currencies. For example, the Mastercard payment system is soon going to add support for cryptocurrency payments. To do this, she began collaborating with the digital platform Bakkt. And earlier, in September, the payment system bought the analytical crypto-service CipherTrace, which allows you to monitor suspicious activity on the blockchain network.

Google has also recently Google began to cooperate with Bakkt.. Now users of the crypto platform will be able to integrate electronic cards into the Google Pay payment system and pay for goods and services in cryptocurrency. In addition, Verifone terminals in the United States will soon be able to accept cryptocurrencies as part of a partnership agreement with the BitPay cryptosystem.

Interest in cryptocurrencies on the part of market giants leads to an increase in the popularity of cryptocurrencies among investors and, in turn, has a positive effect on their value. Against this backdrop, Bitcoin may return to storming new highs, despite the fact that it has retreated down from its all-time record of $67,000.

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