Elon Musk has revealed that Tesla will “most likely” resume accepting Bitcoin again in the near future. The company abruptly withdrew the method of payment earlier this year over environmental concerns related to the use of fossil fuels in Bitcoin mining and transactions.
During the livestream B Word Conference on Wednesday, Musk said Bitcoin’s renewable energy usage was improving. He added that Tesla is doing its due diligence to ensure renewable energy usage increases to at least 50%, and that it is approaching that number.
Once it surpasses that threshold he said Tesla would resume accepting Bitcoin.
Tesla first entered the world of cryptocurrency earlier this year when the company surprised everyone and announced a $1.5 billion Bitcoin purchase. In the same announcement the automaker said it would also add the cryptocurrency as a form of payment for its vehicles.
It didn’t take long for it to follow through with it being added to the website just over a month later. Its presence was short lived though and Bitcoin was removed just as quickly as it was added.
The CEO also revealed it is not just Tesla that has invested in Bitcoin. He also confirmed SpaceX has Bitcoin holdings, something that was previously unknown since it is still a privately held company.
Musk added that he personally holds Bitcoin, Ethereum, and of course Dogecoin.
You can watch the full B Word Conference segment with Elon Musk below.