Elon Musk says Tesla will likely accept Bitcoin again


Elon Musk leaves the Wilmington, Delaware Justice Center on July 13, 2021.

Elon Musk leaves the Wilmington, Delaware, Judicial Center on July 13, 2021.
Photo: Matt Rourke (PA)

Elon Musk has apparently changed his mind about bitcoin. Again. The billionaire founder of SpaceX has said that Tesla will likely accept bitcoin again in the future after abandoning cryptocurrency for environmental reasons.

“It looks like bitcoin is turning a lot more to renewables,” Musk said without any evidence during a live chat on the B Word conference with Twitter founder Jack Dorsey on Wednesday.

“I wanted to do a little more diligence to confirm that the percentage of renewable energy use is most likely equal to or greater than 50%, and that there is a tendency to increase that number, and if that is the case, Tesla would start accepting bitcoin again, ”Musk continued.

“The answer is most likely that Tesla would start accepting bitcoin again. Most likely,Musk said.

The price of bitcoin has jumped over $ 32,000 after Musk’s announcement, an extremely predictable result every time the billionaire comments on the world of fake digital currency.

Tesla started accepting bitcoin in end of March, only to reverse the course within Two months later. Musk said at the time that he was concerned about the environmental impact of bitcoin, which requires a huge amount of energy to mine. But the environmental issues surrounding bitcoin have been known for years, and cynics would likely conclude that Musk is simply trying to manipulate the price of bitcoin.

But Musk appears to have been prepared to respond to this accusation, making a curious claim during the live broadcast that he is not trying to take the price of bitcoin down.

“The three things I own outside of SpaceX and Tesla – and obviously Neuralink and Boring Company – of some importance are by far bitcoin and a little bit of ethereum and a doge,” Musk said.

“If the price of bitcoin goes down, I lose money. I can pump, but I don’t throw, ”continued the billionaire. “I certainly don’t believe in increasing the price and selling or anything like that.”

Even as the owner of Tesla shares and CEO of the company, Musk hypothetically stands to lose a lot of money if the price of bitcoin drops, since the automaker revealed earlier this year that he had bought $ 1.5 billion value of the cryptocurrency.

“If I was purely financially motivated, then, I would not like express this reluctance towards bitcoin energy usage, ”Musk said later in the conversation while appearing extremely defensive.

Where does that leave Tesla and when will the company start accepting bitcoin again? Your guess is as good as ours. But we certainly predicted Musk returns to the pro-bitcoin camp.





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