Tesla CEO Elon Musk said at a meeting on Wednesday that once due diligence is conducted on the amount of renewable energy used to mine the currency, electric car manufacturer Tesla is likely to start accepting Bitcoin again. Payment.

Bitcoin 8% to 32,160.16 US dollars (approximately 2.39 million rupees), while Ethereum rose 11.6% to 1,993.36 US dollars (approximately 14 million rupees). Tesla shares 0.8% to $655.30 in after-hours trading. The price of Bitcoin in India is rupee. As of July 22 at 10 am Eastern Standard Time, it has 2.37 million.

Before Musk’s comments at the B Word conference, Tesla said in May that it would stop accepting Bitcoin for car purchases, less than two months after the company began accepting the world’s largest digital currency.

“I want to conduct more due diligence to confirm that the percentage of renewable energy use is likely to reach or exceed 50%, and this number has an increasing trend. If so, Tesla will resume accepting Bitcoin,” Ma Sk said.

“The most likely answer is that Tesla will resume accepting Bitcoin.”

The use of Bitcoin to buy Tesla’s electric cars highlights the divergence between Musk’s reputation as an environmentalist and using his reputation and status as one of the richest people in the world to support cryptocurrency.

Some Tesla investors and environmentalists are increasingly critical of the way they use the large amounts of electricity generated by fuels to “mine” Bitcoin.

However, more and more digital currency miners are trying to use renewable energy to reduce the on the environment.

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“Tesla’s mission is to accelerate the emergence of sustainable energy. We cannot be a company that does this, nor can we conduct proper investigations of Bitcoin’s energy use,” Musk said.

Musk added that in addition to the Bitcoin owned by Tesla and SpaceX, he personally owns Bitcoin, Ethereum and Dogecoin. The price of Ethereum in India is Rs. The price of 140,000 and Dogecoin in India is Rs. As of July 22, 10 a.m. Eastern Standard Time, the 14th.

“I may pump water, but I won’t dump it,” Musk said. “I definitely don’t believe in selling at high prices…I want to see Bitcoin succeed.”

© Thomson Reuters 2021


Interested in cryptocurrency? We discussed everything about encryption with WazirX CEO Nischal Shetty and Weekend Investing founder Alok Jain on the TechnologyShout podcast Orbital. Orbital can be used on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get podcasts.