Will Tesla accept BTC payments again?

In 2021, Elon Musk It was stated that Tesla will accept payment using Bitcoin (Bitcoin) when miners were using approximately 50% clean energy sources “with a positive future trend”, This is a standard that has only recently been reached.

In a thread from September 14, Bloomberg analyst Jamie Coates mentioned The percentage of Bitcoin mining energy coming from renewable sources has exceeded 50% with “lower emissions and dramatically increased hash rate.” According to Coates, the move towards renewables was a result of the proliferation of miners from China following a mining ban in the country in 2021, as well as some countries turning to mining “to monetise stranded energy and surplus”.

Sustainable energy sources exceed 50%
Lower emissions coupled with a rapidly growing hash rate can only mean one thing; Bitcoin mining consumes more sustainable energy in its mix. pic.twitter.com/AGXrKWDWuI

– Jamie Coutts CMT (@Jamie1Coutts) September 14, 2023

Sustainable energy sources exceed 50%
Lower emissions coupled with a rapidly growing hash rate can only mean one thing; Bitcoin mining consumes more sustainable energy in its mix.

Countries investing in Bitcoin mining include El Salvador, which has also recognized the cryptocurrency as legal tender since 2021, Bhutan, Oman and the United Arab Emirates. The 50% energy standard could mean further progress toward adoption by one of the world’s largest companies.

Musk, CEO of Tesla, owned “at that moment. Since the 50% sustainable energy threshold for resuming payments has been set, Musk realized there was a positive trend Towards greener energy sources, but Tesla’s policy has not changed.

AndThe Tesla CEO does not appear to have publicly announced any moves to resume BTC payments. At press time, Bitcoin’s price stood at $26,572, having risen more than 2% in the past seven days.

Explanation: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information provided here should not be considered as financial advice or investment recommendation. All investments and business transactions involve risks and it is every person’s responsibility to conduct due research before making an investment decision.

Read on:

Investments in crypto assets are not regulated. It may not be suitable for retail investors and the entire amount invested may be lost. The services or products provided are not directed at or available to investors in Spain.