Connect with us

Crypto

Elon Musk is saying Tesla might start accepting Bitcoin again soon

Because Bitcoin value is seemingly tied to Elon Musk, prices shot up a bit at this revelation.

elon musk bitcoin twitter bio tesla
Image: KnowTechie

Months after Elon Musk first declared Tesla would accept Bitcoin, and weeks after the company reversed the decision, it seems we are heading back towards a world where Tesla will let you buy an EV with the cryptocurrency.

As reported by Reuters, Elon Musk spoke virtually at The B Word conference this week. During this talk, he not only revealed that SpaceX was holding Bitcoin but that Tesla would “most likely” resume accepting Bitcoin.

Now, this isn’t going to happen right away. Musk notes that he and Tesla are doing their “due diligence” to ensure that renewable energy usage is “at or above 50%” regarding mining before it started accepting the cryptocurrency again. But, he does state that there is a trend towards increasing that number.

Tesla first started accepting Bitcoin as a payment method in March, but it was short-lived. In May, Musk tweeted that Tesla would stop accepting it, as they were concerned about the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions.”

Because Bitcoin value is seemingly based on Elon Musk, prices shot up a bit at this revelation. Ethereum also saw an increase in value, thanks to Musk saying he also holds that cryptocurrency.

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

Editors’ Recommendations:

Comments

More in Crypto