Tesla to renew help for Bitcoin funds, Elon Musk hints By BTC Friends


© Reuters. Tesla will resume support for Bitcoin payments, suggests Elon Musk

Months after the end of payment support, Tesla CEO Elon Musk announced that its electric vehicle maker could potentially start accepting payments in the flagship cryptocurrency again.

At the B-Word conference, Musk, along with Cathie Wood from Ark Invest and Jack Dorsey from Twitter, stated that Tesla (NASDAQ 🙂 would most likely start accepting Bitcoin payments under certain conditions. On the one hand, he has to confirm that Bitcoin’s green electricity consumption is now over 50 percent.

Musk’s bittersweet relationship with the crypto industry is no secret. In mid-May, he announced that Tesla would stop accepting Bitcoin for payments due to the large carbon footprint of the cryptocurrency. The decision reportedly put the crypto market in panic mode. This was compounded by China’s crackdown on crypto mining and trading.

The Tesla boss seems to have changed his mind and applauds the steps towards more sustainable energy sources. He said:

It looks like Bitcoin is shifting more towards renewable energy, and it looks like some coal-fired power plants in China have been shut down … a conscious and determined, genuine effort by the mining community to switch to renewable energy, then Tesla can obviously support.

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