Tesla will accept payments in Bitcoin again – Elon Musk

Bitcoin payments are starting again at Tesla.

bitcoin
Tesla is likely to accept payments in Bitcoin again. | Photo by Viktor Forgacs on Unsplash

CEO of Tesla and a “well-known” influencer (Elon Musk), said that his electric car company (Tesla) is most likely to accept payments in Bitcoins again. Tesla stopped doing so in May 2021 because Musk wants the use of renewable energy in the Bitcoin transaction and mining process. Musk wants to wait until at least 50% of the energy used in Bitcoin processes is renewable.

Elon Musk talked about this during the B-Word Cryptocurrency Conference, on Thursday, while speaking with Reuters. According to Reuters, Tesla pulled Bitcoin payments because Musk wants to wait a little more to affirm the adoption of sustainable energy. Elon Musk said that if a company is focusing on increasing the use of renewable energy, and healthy climate, and also supporting the current energy used in Bitcoins, then it can be any company but Tesla. Musk further added that he is also the owner of Bitcoin along with Tesla. The major part of this cryptocurrency is coming from the Miners who use coal-generated power for their mining plants. Mostly, they are Chinese. Musk doesn’t want to back these elements responsible for bad climate.

Tesla once accepted Bitcoins, but they didn’t practice this for a long time. Tesla accepts Bitcoin in March and stopped accepting in May because of the above reasons. We are not sure if someone got a Tesla by paying in Bitcoins. Now, it seems Tesla is going to give it one more chance in near future.

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