Tesla is very likely to accept bitcoin again

Key facts:
  • Cathie Wood, the CEO of Ark Invest, says that Bitcoin consumes less energy than banks.

  • Twitter CEO Jack Dorsey claims that bitcoin is the native currency of the internet.

At the Bitcoin (BTC) news event, The B Word, this Wednesday, July 21, Tesla and SpaceX CEO Elon Musk admitted that the two companies own bitcoin, and that he has personally invested in Ethereum and dogecoin as well. . Musk, who participated with Twitter and Square CEO Jack Dorsey and Ark Invest CEO Cathie Wood, noted as “very likely” that Tesla will accept bitcoin again as a means of payment.

While Musk had reservations regarding the Bitcoin consensus mechanism of work test, called himself a supporter of cryptocurrencies. “I have bitcoin, Tesla owns bitcoin and SpaceX also owns bitcoin,” said the executive. I also claim that you have personally invested in ether (ETH) and dogecoin (DOGE), although your investment in bitcoin is “significantly higher” than what you have invested in the other two cryptocurrencies.

The event had raised expectations about a possible debate on the Bitcoin power consumption, but it didn’t happen that way. While Musk mentioned his reservations about the proof of work, due to the environmental impact of the mining, ratified his statements in mid-June, reviewed by CriptoNoticias, on the possibility that Tesla accept BTC again as payment in the acquisition of automobiles.

I would like to do more checks to confirm that the percentage of renewable energy use [en la minería de Bitcoin] is 50% or higher. If so, Tesla will most likely accept bitcoin again.

Elon Musk, CEO of Tesla.

Participants in the dialogue panel agreed that they see a promising future for bitcoin. Fountain: Twitter.

Bitcoin as an efficient means of remittances

For her part, Cathie Wood referred to bitcoin as a financial solution for millions of people in emerging countries, since it is a very efficient means of sending remittances. Wood affirms that there are countries like El Salvador, in which remittances represent 37% of GDP, or Nepal, with a percentage of 24%. “In total, remittances globally add up to about $ 700 billion a year,” says Wood.

Musk asked Jack Dorsey if he would start accepting bitcoin as payment for advertising on Twitter. Dorsey replied “Absolutely”, although he clarified that this was not his main focus at the moment, but to carry out his project of decentralized social network you have for Twitter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.