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

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

Bitcoin rose 8 per cent to $32,160.16, while ether rose 11.6 per cent to $1,993.36. Tesla stocks were down 0.8 percent at $655.30 in extended trading.

B-Word Conference Musk’s comments in May 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 accepted as a sort of payment.

Musk said, ‘I wanted a touch more diligence to verify that the share of renewable energy use is 50 percent or more, and am looking to extend that number, and if so, make Tesla accept bitcoin again. will start the utilization of bitcoin to shop for Tesla’s electric vehicles had highlighted a dichotomy between Musk’s reputation as an environmentalist and his popularity and stature together of the world’s richest people for supporting cryptocurrencies…

Some Tesla investors, along side  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 trying to use renewable energy to scale back the impact on the environment.

Musk said that he personally holds bitcoin, Ethereum, and dogecoin. On July 22. ‘I can pump, but I do not dump,’ Musk said. ‘I certainly don’t believe high prices and selling… I would like to ascertain bitcoin succeeds.”

 

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