Elon Musk: Tesla Will Most Likely RESUME Accepting Bitcoin

What’s better than a brand new Tesla?

A brand new Tesla that you just bought with some of your massive Bitcoin holdings.

According to reports, Elon Musk seems to have switched his stance on BTC, and indicates that Tesla will likely resume accepting Bitcoin.

Musk also came out recently saying that he believed Bitcoin has reached the appropriate level of renewable energy usage, and this is what has changed his previous stance.

When Tesla will resume accepting BTC is anyone’s guess, but Musk’s willingness to re-engage with Bitcoin is a promising sign to investors of Bitcoin.

Here’s what Musk recently said:

BREAKING: Elon Musk just confirmed that Tesla, SpaceX, and him personally all own bitcoin.

— Pomp 🌪 (@APompliano) July 21, 2021

"My hope for #Bitcoin is a better standard of living and more power to the individual", @ElonMusk pic.twitter.com/Uo7xGxiy7T

— Documenting Bitcoin 📄 (@DocumentingBTC) July 21, 2021

Bitcoin rallied past $32,000, as Elon Musk revealed SpaceX owns the token during a cryptocurrency panel discussion with Jack Dorsey and Cathie Wood https://t.co/Q0joWsOblD

— Bloomberg Crypto (@crypto) July 21, 2021

Crypto Potato mentions that Tesla will likely begin accepting Bitcoin again:

Moving on to energy use, Elon re-explained the initial reason why Tesla stopped accepting purchases in Bitcoin, referencing an increasing use of fossil fuels.

However, he now says Bitcoin mining is moving towards majority renewable energy, due to many coal plants now shutting down in China. He’d like to do more diligence to confirm that energy use is at or above 50% renewable and establish that this trend is continued, but he says he will most likely resume Bitcoin purchases for Tesla now.

Elon Musk is talking about nuclear energy in light of potentially using it for bitcoin mining.

That is the inevitable end game.

— Pomp 🌪 (@APompliano) July 21, 2021

"Tesla's bank balances in Europe have negative interest rate..it is quite annoying to see your bank balance drop in real time..this is insane..we definitely move that into #bitcoin" – @elonmusk pic.twitter.com/doRUnXiqSE

— Root 🥕 (@therationalroot) July 21, 2021

Elon Musk says Tesla will likely start accepting bitcoin again https://t.co/tUmZEatDzE

— CNBC (@CNBC) July 21, 2021

Coin Telegraph highlights Musk’s sentiments on Bitcoin and renewable energy usage:

“There appears to be a positive trend in the energy usage of Bitcoin,” said Musk, also expressing skepticism at the speed at which the network had moved towards green energy sources.

“There’s just no way you could basically double or triple the amount of energy in such a short period of time with renewables […] Tesla’s mission is accelerating sustainable energy. We can’t be the company that does that and not do appropriate diligence on the energy usage of Bitcoin.”

He added:

“It looks like Bitcoin is shifting a lot more towards renewables and a bunch of the heavy duty coal plants that were unequivocally being used have been shut down, especially in China.”

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