The head of Tesla and SpaceX, Elon Musk, has reconsidered his views on the environmental dangers of bitcoins and now, as has already been the case in the recent past, is preparing to once again accept the popular cryptocurrency as a means of payment for his company’s electric vehicles.
According to the businessman, he confirms that the share of renewable energy in operations related to the mining and transactions of bitcoins is or even exceeds 50%, and it continues to increase. “If so, Tesla will resume accepting bitcoins,” Musk concluded.
“I want to do a little more due diligence to confirm 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,” he said.
At The B-Word, hosted by the Crypto Council for Innovation; Musk said that Bitcoin-related infrastructure is increasingly switching to green energy; abandoning the use of old-style coal-fired power plants, especially after the ban of cryptocurrencies in China.
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We will remind, in May, Musk unexpectedly published on Twitter a post that Tesla will stop accepting bitcoins as a means of payment for electric cars; due to concerns about the “rapid growth in the use of fossil fuels in bitcoin mining”.
Since then, Beijing has banned cryptocurrency transactions in China, leading to the actual expulsion of miners from the PRC, as a result of which they began to seek refuge in any country with a favorable investment climate and cheap energy. According to the University of Cambridge, many miners have moved to the United States; which has now become the world’s second largest hub for crypto farms. The United States has some of the lowest electricity prices in the world, many of which are renewable. According to some estimates, more than 50% of mining in the country is carried out with the help of such sources.
“Renewable energy will be the cheapest in the long run, but that won’t happen tonight ,” Musk said. “But since there is a conscious and determined; real effort on the part of the mining community to switch to renewable energy; it is clear that Tesla will support it”.
Against the background of these statements, the bitcoin rate rose by 8% on Wednesday and exceeded $ 32 thousand.