On Tuesday, in a blog post , Tesla CEO Elon Musk caused a stir by saying that the electric car maker may accept payments in the cryptocurrency Bitcoin again. It’s been nearly two years since Musk, who also is the CEO of SpaceX and Boring Co., said that Tesla is working on a system to accept payments in cryptocurrencies including Bitcoin.
Tesla may accept Bitcoin payments again. On Wednesday, Tesla confirmed that it is working with a cryptocurrency payment processor to accept payments in Bitcoin. The announcement marks a significant change in Tesla’s approach to payment processing, as it is the first time the company has accepted cryptocurrency as payment.
Tesla, like other major car manufacturers, has recently been accepting payments in bitcoin. That’s right, you could use bitcoin to pay for an electric car at Tesla stores or its online service network, and the company would transfer the funds to your bank account. The question is, why do car makers want to accept bitcoin?. Read more about elon musk twitter and let us know what you think.In response to a report that he is responsible for manipulating the price of bitcoin, Tesla & SpaceX CEO Elon Musk is at it again, as he tweeted that Tesla will resume BTC payments for Tesla vehicles if it is confirmed that there is a reasonable (~50%) use of clean energy by miners with a positive trend in the future….. It all started when South Africa’s richest woman and Sygnia CEO Magda Verzicka called for an investigation into Elon Musk for manipulating the price of bitcoin. Wierzycka argues that Musk manipulated the price of bitcoin through a series of mentions and statements on Twitter, and therefore should be responsible for the price drop, noting that what we have seen with bitcoin is price manipulation by a powerful and influential person. She also said Musk could have amassed more bitcoins when prices were moderate and pushed the price up by announcing bitcoin payments for Tesla cars. Similar cases of Dogecoin price fixing have been reported in the past, and the SEC is said to be investigating the matter as well.
Bitcoin and Elon Musk: a love-hate relationship?
Elon Musk has long been one of bitcoin’s most popular advocates. He has repeatedly shown his support for bitcoin with positive mentions and has even added the bitcoin logo to his Twitter profile. It was thought that his mentions always had a positive effect on the price of bitcoins, so people bought more bitcoins after his mentions. When Tesla announced in February that it would accept bitcoin as payment for Tesla cars, bitcoin prices began to skyrocket. Unfortunately, bitcoin was not long-lived at Teslas, as Musk announced that he would no longer use bitcoin as a means of payment, citing the fact that mining bitcoin is dangerous to the environment. Musk pointed out that bitcoin mining is not environmentally friendly and therefore dangerous for the environment. Musk, along with Michel Saylor, CEO of MicroStrategy, also spoke to miners in North America to promote the idea of greener bitcoin, which has paid off to some extent. However, there is speculation that the cancellation of bitcoin payments could be due to Tesla’s desire to enter the multi-billion dollar revolving credit market in the US. According to unnamed sources, Tesla is hoping to get money from the Biden administration to get closer to its emissions targets. The electric vehicle company is one of eight companies that have applied to the Environmental Protection Agency for renewable electricity generation and credits for it.
Bitcoin price rises
The price of bitcoin has been under pressure for a long time after Elon Musk announced he was abandoning BTC payments. It was trading in a very narrow range, and it took a rise for BTC to reach $40,000. However, after Elon Musk’s tweet mentioned at the beginning of this article, the price of bitcoin rose nearly 10%. Musk may be trying to polish his lost image in the cryptocurrency space, as he has received some serious backlash from the cryptocurrency community. Many bitcoin followers cancelled their orders for Tesla cars after Musk tweeted that Tesla would no longer accept bitcoin as a form of payment. The backlash may have prompted Musk to issue a statement to repair his tarnished image.Tesla may Accept Bitcoin Payments Again – Tesla is reportedly exploring the possibility of accepting payments with bitcoin again after shutting down its cryptocurrency payment platform last month. The company’s chief security officer and vice president of security, Nick Kalivitis, told Bloomberg that a “handful” of employees are working to implement the payment option on Tesla’s electric vehicle charging stations.. Read more about tesla accept bitcoin and let us know what you think.
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