Elon Musk has apparently changed his mind about bitcoin. Again. The billionaire founder of SpaceX said Tesla would likely accept
During a live-streamed conversation with Twitter founder Jack Dorsey for the B Word Conference, Musk said "It looks like bitcoin is shifting a lot more towards renewables."
Tesla founder Elon Musk is one of the loudest voices in the cryptocurrency world. He frequently uses his massive platform on Twitter to post about various digital assets, and often causes wild swings in their prices, leading some in the space to question his true intentions.
The firm had said in May it would no longer accept the cryptocurrency over environmental concerns.
Musk affirmed Tesla will "most likely" start taking Bitcoin again while he waits for more renewable energy to be involved in the process.
The founder of the electric carmaker says coins are mined using at least 50% renewable power, sending the price up sharply
Elon Musk on Wednesday said Tesla will “most likely” start accepting bitcoin again as more renewable energy is being used to mine the digital currency. Tesla first started accepting bitcoin as payment for its electric cars in March, but discontinued the practice in May due to environmental concerns about fossil fuels being used to mine
Tesla paused accepting bitcoin over environmental concerns.
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Luke Ellis, chief executive of Man Group, compared the mania around digital currencies with the 17th century tulip frenzy, when the value of bulbs soared and then crashed.
Speaking remotely at the B Word Conference today, Tesla CEO Elon Musk said the electric car company is ‘likely’ to resume accepting payment for its vehicles in the cryptocurrency, after pausing the option in May. “I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50%, and that there is a trend towards increasing that number, and if so Tesla would resume accepting Bitcoin,” said Musk, echoing a statement he’d tweeted in...
Elon Musk has caused Bitcoin to spike again after confirming he still holds the coin and that Tesla will "most likely" accept it again.