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Elon Musk Says Tesla Will "Most Likely" Resume Accepting Bitcoin

u.today 21 July 2021 19:07, UTC
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Tesla CEO Elon Musk said that Tesla would "most likely" resume accepting Bitcoin payments, but it needs to do some more due diligence to make sure that its green energy use is above the 50 percent threshold during "The B Word" conference: 

Most likely, Tesla would resume accepting Bitcoin.        

The entrepreneur has noted that that Bitcoin's energy use went up due to its Tesla-driven price rally earlier this year, but its energy mix is shifting toward renewables due to China banning the mining industry: 

It looks like bitcoin is shifting more towards renewable and it looks like some coal plants in China have been shut down … There is a trend towards more than 50% renewables. In that case, Tesla would resume accepting Bitcoin.

He believes that renewable energy will be the cheapest form of mining.  

Musk has reaffirmed his support for Bitcoin, claiming that he doesn't engage in pumping and dumping the largest cryptocurrency:  

If the price of bitcoin goes down, I lose money. I might pump but I don’t dump.

He says that he would like Bitcoin to succeed, claiming that it's his biggest holding.

As reported by U.Today, Musk also personally holds Ethereum and Dogecoin. 

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