Elon Musk says Tesla may accept Bitcoin again, but there's big a catch

Tesla CEO Elon Musk has said that Tesla will likely accept Bitcoin as payment again for its electric vehicles, but there's a catch.

@JakConnorTT
Published Thu, Jul 22 2021 4:33 AM CDT   |   Updated Fri, Aug 20 2021 4:12 PM CDT

Tesla CEO Elon Musk has discussed if Tesla will ever accept Bitcoin as a form of payment for its electric vehicles.

Elon Musk says Tesla may accept Bitcoin again, but there's big a catch 01 | TweakTown.com

Musk appeared at a cryptocurrency conference organized by Twitter CEO Jack Dorsey, where he answered questions regarding cryptocurrency and Bitcoin. Musk was asked if Tesla would accept Bitcoin as payment for its vehicles, to which Musk said that if Bitcoin's renewable energy usage was at 50% of above, then Tesla "will most likely resume accepting Bitcoin".

Here's what Musk said, "It looks like bitcoin is shifting a lot more toward renewables and a bunch of heavy-duty coal plants that were being used...have been shut down, especially in China." Not long ago, Beijing started its crackdown on Bitcoin mining, which caused Bitcoin miners to flee to the United States to resume production with renewable energy in mind.

Musk says that Tesla will most likely accept Bitcoin as payment after he has confirmed that "the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number. If so, Tesla will most likely resume accepting bitcoin."

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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