There is no dull day when it comes to cryptocurrency speculation and Maverick billionaires. Elon Musk, who can control markets with a single ranking meme, has once again proved his influence in the world of cryptocurrency by saving Bitcoin from a recent crash – a crash that he reasonably helped. Just two months after the announcement that Tesla will no longer accept Bitcoin, Kasturi has now taken the opposite path. Speaking at the Virtual B Word conference on Wednesday, he said electric car companies would again start accepting cryptocurrency as payment – causing prices to return above the critical, $30,000 / BTC rate.
“I wanted a little more perseverance to make sure the percentage of renewable energy use was probably 50 percent or more, and there’s a tendency to increase that number,” Melamed Magnet said at the conference. “[If] then Tesla will start accepting bitcoin again.” “Perhaps the answer is that Tesla will start accepting bitcoin again,” he confirmed. Kasturi returned its cryptocurrency credentials in February, when it was officially raised that Tesla had bought $1.5 billion worth of bitcoin, leaving no doubt that several Twitter suites supported the process.
In addition to the purchase, the company announced that they would begin adopting Bitcoin as a payment method, sending the price of the currency to record highs and showing a global graphics card shortage in the process. The move was short-lived as criticism of the unprecedented environmental impact of the payment system prompted Muska to take a break from policy.
“Tesla has suspended vehicle purchases using Bitcoin,” he said in a statement tweeted on May 12, “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but it can’t come at a very high price for the environment.” The announcement saw an immediate double-digit drop in the value of Bitcoin – and the hits continued for investors. The price of cryptocurrency plummeted again a few weeks later when Kasturi tweet a Linkin Park meme (yes, that’s exactly what you read) and not too long after that, China was hit by a crackdown.