Elon Musk’s Tesla Will Take Bitcoin As Payment Again!

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Elon Musk said at a conference on Wednesday that his electric car maker Tesla is likely to resume accepting bitcoin as payment. Provided that Bitcoin will do due diligence on the amount of renewable energy used in mining.

Bitcoin rose 8 per cent to $32,160.16 (approximately Rs 23.9 lakh), while ether rose 11.6 per cent to $1,993.36 (approximately Rs 1.4 lakh). Tesla shares were down 0.8 percent at $655.30 in extended trading. The price of bitcoin in India as of 10 am on July 22 was Rs 23.7 lakh.

Musk’s remarks at the B Word conference came after Tesla stopped accepting bitcoin for car purchases in May. Tesla began accepting the world’s largest digital currency as payment just two months before bitcoin was unacceptable as a payment form.

Musk said, “I wanted a little more diligence to confirm that the percentage of renewable energy use is 50 percent or more, and am looking to increase that number, and if so, make Tesla accept bitcoin again.” Will start.” The use of bitcoin to buy Tesla’s electric vehicles had highlighted a dichotomy between Musk’s reputation as an environmentalist and his popularity and stature as one of the world’s richest people for supporting cryptocurrencies. .

Some Tesla investors, along with environmentalists, are increasingly critical of the way bitcoin is “mined,” which uses large amounts of electricity generated from fossil fuels.
However, more digital currency miners are attempting to use renewable energy to reduce the impact on the environment.

Musk said that he personally holds bitcoin, ethereum and dodgecoin. On July 22 at 10 am (IST) the price of Ethereum in India was Rs 1.4 lakh and the price of Dodgecoin in India was Rs 14.
“I can pump, but I don’t dump,” Musk said. “I certainly don’t believe in high prices and selling… I want to see bitcoin succeed.”

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