Tesla has not sold its and seems to have a positive outlook for future crypto investments, as revealed by the company’s recent filing with the U.S. Securities and Exchange Commission.

The electric car maker stated in a submission to the SEC that it believed in long-term digital asset potential. According to the company, cryptocurrencies can be both an investment option and as a liquidity alternative for cash.

SEC filing also stated that Tesla (NASDAQ,:) still allows digital asset investment. “As with any investment and consistent with how we manage fiat-based cash and cash-equivalent accounts, we may increase or decrease our holdings of digital assets at any time based on the needs of the business and our view of the market and environmental conditions,” the company stated.

Tesla Is Holding

It also stated that Tesla had not sold digital assets since 31 March 2021.

An electric car company invested $1.5B in Bitcoin (BTC), and sold a part of their holdings for $128M in March 2021. The company’s assets have experienced an impermanent loss since then of $27 millions.

However, Tesla still had $1.26billion of carrying value from its digital assets at the end the first quarter in 2022. The fair market value of the digital assets in Tesla’s possession as of March 31st, 2022, was $1.96 billion, the company revealed.

Bitcoin Mining: The Shift

Tesla made a splash in the crypto world by investing $1.5 billion into Bitcoin last February. This unexpected investment made Tesla one of the largest investors in the most dominant cryptocurrency at that time.

Soon after, Tesla’s CEO Elon Musk hinted that his company would start accepting Bitcoin payments for new vehicles. However, the decision was later rescinded, as Musk claiming that his company would not support BTC payments until BTC mining takes a more environmentally-friendly direction. Bitcoin miners are accused of mining bitcoins with high energy consumption for years.

To that end, Tesla last month announced partnerships with ‘Blockstream’ and Jack Dorsey’s ‘Block’ to create a Bitcoin mining plant that uses solar and battery power to mine bitcoin. Texas, which is home to a lot of renewable energy in America, will host the new mine.

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