The company had announced a few months back that it would no longer accept Bitcoin payments for its cars, given that the Bitcoin network wasn’t environmentally friendly because of large energy usage.
However, that stance might change soon enough, with Musk saying it looks like “Bitcoin is shifting heavily towards renewable energy use.”
He then added it is almost very likely that the company resumes accepting Bitcoin payments as soon as more data is available to confirm the growing move to renewable energy mining.
Earlier on in the conference, Musk had disclosed that his other company, SpaceX also owns Bitcoin and that he personally holds Bitcoin, Ethereum, and Dogecoin. Neither of the entities has sold Bitcoin in recent times according to the billionaire founder.
The price of Bitcoin and cryptocurrencies appear to have recovered from the weekend’s slump as markets responded favorably to the event. According to Coinmarketcap, roughly $100 billion was added to the entire market cap in the past 24 hours.
Bitcoin is trading above $32,000 at the time of writing, with ETH also enjoying a massive pump off the back of news that Elon Mush owns the asset. ETH trades at $1990, representing an 11% increase on the day. Dogecoin is up 13%, trading at $0.19.