Tesla head Elon Musk is a big supporter of cryptocurrencies and is particularly interested in the meme coin Dogecoin. Last year Tesla allowed bitcoin as a payment option, but soon removed this option, citing fears of damage to the environment from mining the cryptocurrency. Tesla has said that it may reduce its holdings in crypto assets based on business conditions and environmental factors. “We believe crypto assets have potential for long-term investment as well as use as a payment option,” the company said in a filing to the SEC.
Musk has often said that for him bitcoin is a long-term investment tool rather than a per-day payment option. However, his interest is more in Dogecoin. Tesla announced late last year that customers would be able to purchase a select range of its merchandise with Dogecoin. Tesla has kept the option of reintroducing crypto payments for its products and services open, despite market volatility and regulatory tightening.
Tesla’s revenue increased to $ 17.72 billion (about Rs 1,33,435 crore) in the fourth quarter. This is higher than analysts’ estimates of $16.57 billion, according to IBES data from Refinitiv. Compared to other automobile companies, Tesla has done well in handling supply chain constraints. For this, apart from using more number of available chips, the company has made efforts like changes in software. Tesla delivered a record number of vehicles to customers in the fourth quarter. Musk said that this year also the supply of the chip could be short. This problem is expected to go away next year.<!–
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