Tesla CEO Elon Musk had announced on Twitter that the carmaker would accept the most popular cryptocurrency, Bitcoin as a mode of payment to purchase a Tesla.
Less than two months later Tesla stopped accepting Bitcoin as a method of payment citing environmental concerns around how Bitcoin miners were not using sustainably produced electricity.
On X (Twitter ath the time) he explained: “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”
If you have a business, especially if your business is online, you should consider accepting bitcoin. The more methods of payment you offer the larger your profit potential and potential customer base will be.
Elon is late to the bitcoin party but better late than never. He shared these thoughts about Bitcoin on a Clubhouse chat:
“I do at this point think bitcoin is a good thing. So I am a supporter of bitcoin. Like I said I’m late to the party but I am a supporter of bitcoin.
And I think Bitcoin is really on the verge of getting broad acceptance by sort of conventional finance people.
As a friend of mine said, the most entertaining outcome is often the most likely.
The most entertaining outcome would be that Dogecoin becomes the currency of Earth in the future.”
Elon is a huge fan of Dogecoin and even pumped it during his monologue when he hosted Saturday Night Live.
He is very bullish on Dogecoin and plans to hold it over time, as he explained with this catchy rhyme: “I might pump, but I don’t dump.”