Elon Musk Opens Up Possibility of Receiving Bitcoin for Tesla Payments

Tesla CEO Elon Musk has opened up the possibility of accepting Bitcoin as a means of payment for electric car units produced by his company. Reporting to CNBC, on Thursday (22/7/2021), the shift in energy used in the bitcoin mining process, towards new and renewable energy is the reason Elon is reconsidering the use of crypto assets with the largest market capitalization. "Bitcoin is starting to switch to renewable energy, and a number of bitcoin mining devices used have been discontinued, especially those in China," he said, quoted Thursday.

"I want to do due diligence to make sure their use of renewable energy is at the level of 50 percent or more and see if that number will continue to increase. If the answer is yes, Tesla will again accept Bitcoin," he added. For information, in May 2021, a man born in South Africa stated, Tesla, stopped buying electric cars using bitcoin, seeing the high use of fossil fuels in the mining process. In fact, Elon assesses that renewable energy will be the cheapest energy source in the future, even though it requires a long process in its development.

"Renewable energy will be the cheapest energy, but this doesn't happen overnight," he said.

Therefore, Elon encourages the Bitcoin mining community to switch and develop the use of renewable energy to produce these crypto assets. "As long as there is awareness and desire, concrete steps from the mining community to switch to renewable energy, it is certain that Tesla will support it," he said.