Tesla CEO Elon Musk said at “The ₿ Word” event titled “Bitcoin as a Tool for Economic Empowerment” that Bitcoin may have already reached its benchmark in renewable energy.
«I want to do a little more diligence to confirm that the percentage of renewable energy use is very likely to be above 50%. And that there is a tendency to increase that number».
As a curious fact, Elon Musk said at the event that if the use of renewable energy in Bitcoin mining is found to be 50% or higher, Tesla would again admit Bitcoin as a means of payment.
To recall, Elon Musk announced in May that Tesla would stop accepting payments in Bitcoin. Because the network “uses more and more fossil fuels.”
“Whenever Bitcoin falls, I am also one of those who lose money.”
However, it later clarified that Tesla would resume BTC transactions when there was confirmation that the miners were using more than 50% clean energy. With a positive future trend.
Elon Musk and Jack Dorsey agree to discuss Bitcoin at the event
Specifically, billionaires Elon Musk and Jack Dorsey agreed to discuss Bitcoin at the “The ₿ Word” event. The conversation was apparently confirmed in a Twitter thread, which began with a tweet from Dorsey promoting the event.
«The Bitcoin development community above all else».
In turn, Musk replied, “Bicurious?” referring to “The B Word” event, and prompting Dorsey to invite him to a talk.
However, Dorsey did not shy away from replying to Musk, replying: ‘Strange! Let you and I have a conversation at the event. You can share all your curiosities».
Many tweeters assured that it was one of the most entertaining and cross conversations in recent times.
BTC is on its way to a greener future
In this regard, Elon Musk has hinted that the cryptocurrency industry is on its way to a greener future. However, you will not be accepting Bitcoin payments yet.
Indeed, speaking at “The ₿ Word,” a virtual Bitcoin event featuring Twitter CEO Jack Dorsey, Ark Invest’s Cathie Wood, and Square Crypto moderator Steve Lee, Musk said that Tesla would “most likely” consider resume Bitcoin payments for your vehicles. But, he needed to exercise diligence before making a decision.
«There seems to be a positive trend in the energy consumption of Bitcoin. There is simply no way you can basically double or triple the amount of energy in such a short period of time with renewables.».
For his part, «Tesla’s mission is to accelerate sustainable energy. We can’t be the company that does that and not do due diligence on Bitcoin’s energy consumption».
In addition, he added: «It seems that Bitcoin is shifting much more towards renewables. And a lot of the heavy coal plants that were unequivocally used have been shut down, especially in China.».
By way of closing, Elon Musk said: «I definitely don’t believe in raising the price and selling or anything like that. I would like Bitcoin to be successful».
I say goodbye with this phrase from Winston Churchill: «A good conversation should exhaust the topic, not the interlocutors».