Tesla Can start accepting Bitcoin as payment for their cars again
Elon Musk has stated that Tesla can restart accepting bitcoin for payments once it has conducted due diligence on the amount of renewable energy used to mine the currency.
It is quite clear that Elon Musk is an environmentalist who will do everything to protect the environment. Teslas is also committed to protecting the environment as its mission is to accelerate the advent of renewable energy.
Elon Musk believes that it’s their responsibility to do proper due diligence on the energy usage of bitcoin to ensure that Tesla’s mission is upheld.
Bitcoin recently experienced a huge drop after Elon Musk said Tesla would stop accepting the cryptocurrency for payment, due to the fact that the process of mining the coin used too much fossil fuel-generated electricity.
Bitcoin has experienced an increase of 8% to $32,160,16 after Elon commented at the B World Conference on Wednesday.
Elon clearly stated that his decision to stop accepting bitcoin as payment for Tesla Electric cars was not motivated by the fact that he disliked the cryptocurrency as he personally owns bitcoin apart from those owned by SpaceX and Tesla.
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“I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number, and if so Tesla would resume accepting bitcoin,” Musk said
Many digital currency miners have since focused on using renewable energy to promote a healthy and good environment, which is good for the environment.