Tesla will resume accepting Bitcoin most likely, according to the new comments made by the company’s CEO Elon Musk, as we read more today in our bitcoin news.
Elon’s outlook on BTC energy use has changed seemingly as there’s a trend towards renewable energies which is why Tesla will resume accepting Bitcoin soon. Jack Dorsey and Musk had their face-to-face talk about Bitcoin during the “B-Word” event and they were joined by Cathie wood and moderator Steve Lee. Their conversation was quite bullish all around including the BTC energy use which Elon says he is more optimistic about.
The trio started talking about what got them interested in Bitcoin and Elon said he saw an improvement to the information system that supports the economy as a whole. On Scalability, Musk admitted that while he will consider the greater block sizes for BTC, he thinks that a well-implemented second layer like lightning will allow it to scale so that it will become the currency of the world. Moving on to the energy use, Elon explained his main reason why Tesla stopped accepting purchases in BTC referring to the increased use of fossil fuels. However, he now thinks that BTC mining is moving towards renewable energy due to the many coal plants now shutting down in China.
He would like to do some more diligence to confirm that energy use is at or above 50% renewable and to establish that this trend is continued but then he said that Tesla will resume accepting BTC for its cars:
“I do believe that long term, renewable energy will actually be the cheapest form of energy, but it just doesn’t happen overnight. But as long as there is a long-term trend toward the use of renewable energy by the community, Tesla can support that.”
As recently reported, The billionaire, Elon Musk still influences DOGE’s price as the cryptocurrency spiked again by 10% overnight, seemingly he hasn’t forgotten about the coin as some feared. DOGE spiked more than 10% after Musk updated his Twitter picture to show that he still supports the cryptocurrency. His new profile picture is a headshot of him with DOGE reflections on his sunglasses similar to one of the Bitcoin laser eyes memes which were extremely popular. The single-action from the Tesla CEO saw the picture of the meme-coin move from $0.18 to $0.202 overnight but then it retraced and is now trading at $0.183.