Tesla will ‘most likely’ resume accepting bitcoin, says Elon Musk

Tesla will most likely resume accepting bitcoin as payment once it conducts due diligence on the amount of renewable energy utilized for mining the currency, CEO Elon Musk said at a conference on Wednesday.

Bitcoin was increased by 8% to $32,160 after the announcement.

Musk’s comments at the B-Word conference come followingTesla’s announcement said in May that it would stop accepting bitcoin for car purchases, less than two months after the automaker started accepting the cryptocurrency.

“I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50%, and that there is a trend towards increasing that number, and if so Tesla would resume accepting bitcoin,” said Musk.

“Most likely the answer is that Tesla would resume accepting bitcoin.”

In June, Musk had said Tesla will accept bitcoins when miners use reasonable clean energy.