Bitcoin prices rise after elon musk statement today
Elon Musk's company Tesla can accept Bitcoin again. After Musk said this, the price of bitcoin has skyrocketed and has crossed thirty thousand dollars.
Electric car maker Tesla said in May that it would no longer accept bitcoin.
The company cited energy consumption in bitcoin mining as a cause for concern and cited the reason for its decision.
The company made this decision just two months after accepting bitcoin. Bitcoin is the largest digital currency in the world.
Now, during the B Letter Cryptocurrency conference, Musk has said that Tesla can start taking Bitcoin again.
He also said that he is also conducting research on fossil fuel consumption in bitcoin mining.
Also, Read:-How to buy bitcoin in India? | Is bitcoin banned in India?
Musk said: "I wanted a little more diligence to confirm if the percentage of renewable energy use is 50% or more, and there is a tendency to increase this percentage, and if so, Tesla." It will accept bitcoins again. "
Some Tesla investors and environmentalists slammed the company's plan to accept bitcoin.
The issue was raised that the use of such currency was allowed to purchase vehicles that are said to be environmentally conscious, which are a threat to the environment.
Bitcoin mining consumes a large amount of energy. The question was raised whether this electricity is produced from fossil fuels or from renewable energy.
Elon Musk has been a supporter of cryptocurrencies. He's also been accused of manipulating his influence to help cryptocurrencies gain traction.
At the B-word conference, Musk also said that his companies Tesla and SpaceX have bitcoins. Along with this, he has personally invested in Ethereum and Dogecoin.
Musk has also been accused of artificially inflating the price of cryptocurrencies and then selling them.
To this Musk said: 'I don't believe in raising this price and then selling it. I want Bitcoin to be successful.
Twitter Executive Jack Dorsey and ARK Chief of Administration Kathy Wood were also present at the B-Word conference.
Following Musk's remarks, the price of bitcoin has risen as much as 6 percent, while that of Ethereum has risen 10.6 percent.
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