Talk remotely to B Word Conference Today Tesla CEO Elon Musk said the electric car maker will “likely” resume paying for its vehicles in cryptocurrency, after suspending the option in May.
“I wanted a little more due diligence to confirm that the percentage of renewable energy use is most likely equal to or greater than 50%, and that there is a tendency for that number to increase, and if that ‘ is the case, Tesla would start accepting Bitcoin again, ”Musk said. , echoing a statement he tweeted in June.
The BBC noted this pushed the price of Bitcoin past the $ 30,000 mark. At the time of writing, the cryptocurrency is valued at $ 31,899.
For those scoring at home, here’s a brief timeline of events:
Tesla had started accept Bitcoin payments for cars in March, a move that sent the price of the cryptocurrency soaring that day from just over US $ 39,000 to US $ 46,000 that day. The electric vehicle manufacturer then Bitcoin payments break in May, Musk citing concerns about the “increasing use of fossil fuels” being used to mine cryptocurrency.
Tesla and Bitcoin pic.twitter.com/YSswJmVZhP
– Elon Musk (@elonmusk) May 12, 2021
On June 13, Musk said the company would bring back the possibility of buying Tesla cars with Bitcoin when clean energy use by cryptocurrency miners approached 50%.
The outspoken CEO did not specify any sort of deadline for this. However, he revealed that he owns Bitcoin, Ethereum, and Dogecoin, and that he is indeed a cryptocurrency optimist. “I can pump, but I don’t throw… I certainly don’t believe in increasing the price and selling… I would like to see Bitcoin succeed,” he said.