Elon Musk says Tesla will accept Bitcoin once more

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Elon Musk departs from the justice center in Wilmington, Delaware on July 13, 2021.
Photo: Matt Rourke (AP)

techno.rentetan.com – Musk was hot and cold in cryptocurrency in ways that made a cynic think he manipulated the market.

Apparently Elon Musk has changed his mind regarding bitcoin. Again. In the future, after falling off cryptocurrency over environmental concerns, the billionaire founder of SpaceX said Tesla would probably accept Bitcoin again.

“It looks like bitcoin shifts much more in renewables,” said Musk without proof during the livestream B Word conference on Wednesday with Twitter founder Jack Dorsey.

“I wanted to do a little more to show that the proportion of renewable energy is likely to rise to or above 50 percent and that there is a trend for that figure to rise. If so, Tesla would resume to accept Bitcoin,” Musk continued.

“The answer is most likely that Tesla will re-enter Bitcoin. Very probably,” Musk said.

After Musk’s announcement, bitcoin’s price surged over $32,000, a very predictable result for the billionaire commenting on fake digital money.

Tesla began to accept Bitcoin late in March only less than two months later to reverse course. Musk said he worried that bitcoin, which requires huge energy to mine, would have an environmental impact. But the environmental problems of bitcoin are known for years and cynics probably conclude that musk is merely attempting to manipulate bitcoin prices.

But Musk seems prepared to respond, making a curious statement throughout his lifestyle that he never tries to plunge the price of bitcoin.

“Bitcoin, by far, and some etheric and some doge, are the three things I possess outside SpaceX & Tesla —and obviously Neuralink and Boring Company,” Musk said.

“I’ll lose money if bitcoin’s price drops. I could pump, but I’m not dumping,” continued the billionaire. “I certainly don’t believe that the price will be high and that will sell or any such thing.”

Even as Tesla stock owner and Chief Executive Officer, Musk hypothetically loses a lot if the Bitcoin cost falls since, earlier this year, the car company disclosed that it bought $1.5 billion in cryptocurrency.

“In that case I would not express such reticence about bitcoin energy use, if I was purely financially motivated,” Musk said later in the conversion while sounding extremely defensive.

Where does Tesla leave and when will Bitcoin be accepted again? It’s as good as our devination. But Musk’s swing back to the pro-bitcoin camp was definitively predicted.