tesla will most likely accept bitcoin again

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

  • Twitter CEO Jack Dorsey claims that bitcoin is the Internet’s native currency.

At the Bitcoin (BTC) current event, The B Word, on 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 again accept bitcoin as a means of payment.

While Musk expressed reservations regarding Bitcoin’s proof-of-work consensus mechanism, he qualified as a supporter of cryptocurrencies. “I have bitcoin, Tesla owns bitcoin and SpaceX also owns bitcoin,” the executive said. I also claim that you have personally invested in ether (ETH)and dogecoin (DOGE), although your investment in bitcoin is “significantly higher” than you have invested in the other two cryptocurrencies.

The event had raised expectations about a possible debate over Bitcoin’s energy consumption, but it did not happen. While Musk mentioned his reservations about the proof of work, due to the environmental impact of mining, he ratified his statements from mid-June last, reviewed by Crypto News, about the possibility that Tesla will again accept BTC as payment in the acquisition of cars.

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

Elon Musk, CEO of Tesla.

Participants of the dialogue panel agreed to see a promising future for bitcoin. Source: Twitter.

Bitcoin as an efficient means for remittances

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

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

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