Elon Musk, CEO SpaceX and Tesla said that Bitcoin may be approved for purchase of Tesla vehicles in near time, he made this known in an online panel discussion organized by Crypto Council on Innovation tagged , “The B Conference” that has Jack Dorsey of Twitter and Square payments as one of the keynote discussants.
Thank you for reading this post, don't forget to subscribe!
In his thoughts on the benefits of cryptocurrency, Elon noted that he believes in cryptocurrency as a way to ” increase the power of individual in relation to government.”
He listed Bitcoin, Ethereum and dogecoin as cryptocurrencies he has invested in. When asked whether he engage in market dumps, Elon claimed he only pump and doesn’t dump stressing that he has lost money but still “hodl” despite volatility.
Elon noted that suspension of Bitcoin as a means payments by Tesla due to high energy use in minning cryptocurrency will be lifted once the energy consumption is reduced to approved level. “It looks like Bitcoin is shifting more toward renewables,” Musk said. “I would want to do a little bit more diligence to confirm the percentage of renewable energy usage is at or above 50%.”
“Tesla’s mission is accelerating the advent of sustainable energy,” he said.
“We can’t be the company that does that and also not do appropriate diligence on the energy usage… now the it looks like bitcoin is shifting a lot more towards renewables.”
Jack Dorsey of Twitter and Square said that he is a firm staunch cryptocurrency advocate and believes that cryptocurrency is a way to reduce costs and improve people’s life.