Musk Sees Bitcoin's Future in Green Energy

Musk sees Bitcoin’s future in green energy. Tesla’s CEO Elon Musk said that Bitcoin is heading towards a greener future.

Elon Musk: I'm a Bitcoin Investor

Speaking at the B Word conference recently, Elon Musk made striking statements. Stating that Bitcoin is on the way to a greener future, Musk also explained that SpaceX is also a Bitcoin investor. The Bitcoin (BTC) event was attended by Twitter’s CEO Jack Dorsey, Elon Musk, Ark Invest's Cathie Wood and Square Crypto's Steve Lee. During the event, Musk announced for the first time that SpaceX owns Bitcoin. He also emphasized that Tesla will not yet accept BTC payments after examining the sustainability of BTC. Musk, who did not give details about how much Bitcoin (BTC) SpaceX bought, made the following statements: "SpaceX owns Bitcoin, Tesla owns Bitcoin. I personally have some Ethereum and Dogecoin."

Tesla is on the Verge of Re-accepting Crypto

Musk's other company, electric vehicle manufacturer Tesla, bought $1.5 billion worth of crypto earlier this year. This led to a massive Bitcoin price rally. Later, the rally ended abruptly after Tesla stopped accepting BTC payments due to concerns regarding its energy use. Speaking at “The ₿ Word,” a virtual Bitcoin (BTC) event, the billionaire announced that Tesla is on the verge of accepting crypto again. Elon Musk showed that BTC is promising in using renewable energy as a reason for this.

We Don't Consider Selling Bitcoin

Musk said, “I am not personally selling anything or SpaceX is not selling any BTC.” In addition, Musk expressed that he is happy with the closure of coal-fired mining facilities in China. Musk noted that this is a “positive trend” in using green energy for BTC mining.