Elon Musk’s Tesla announced in February 2021 that the company had purchased $1.5 billion worth of bitcoin. Also in March, it was announced that Tesla would be accepting payments in bitcoin to buy cars in the future. But a few days ago American car company Tesla owner Elon Musk said that his company will no longer accept bitcoin from Tesla car buyers. He refused to take Bitcoin due to climate concerns. After this, there was a lot of weakness in the price of Bitcoin. “We are concerned about the rapidly increasing use of fossil fuels for bitcoin mining and transactions, particularly coal, which has some of the worst emissions of any fuel,” Elon Musk wrote in a tweet.
How Can Buy Electric Car with Bitcoin
Tesla Inc Chief Executive Officer (CEO) Elon Musk said on Sunday that the electric car maker may allow the purchase of cars with bitcoin. He has put a condition for this. Musk said that this is possible only if his miners start using renewable energy. Elon Musk said in a tweet that bitcoin miners are seeing a better trend after increasing the use of clean energy. If bitcoin miners use clean energy, Tesla could allow cars to be bought with bitcoin.
How Tesla Boosted Bitcoin Sales
After this tweet related to bitcoin and tesla by Elon Musk, the price of bitcoin registered a lot. If we talk about bitcoin’s trading, in the meantime, the price of bitcoin has increased by 5 percent and it has reached a price of $ 37,360. The price of Bitcoin recorded an increase of more than $ 1,800 compared to the previous day. Elon Musk said that Tesla has sold 10% of its holdings in bitcoin. This is to prove that bitcoin can be easily redeemed, there is no problem in it.
Is Elon Musk’s Tesla Company Bought Bitcoin
In February 2021, Tesla announced that it had purchased $1.5 billion worth of bitcoins. The company has also said that Tesla cars may accept payment in bitcoin for purchases in the future. Elon Musk said that the idea of cryptocurrency is great and it has a very bright future too.