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Bitcoin rises as Tesla likely to accept the crypto again

written by Bella Palmer
bitcoin

Bitcoin enjoyed relative bullish sentiments having returned above $32,0000 on Thursday

The world’s biggest crypto enjoyed some relative bullish sentiments having returned above $32,0000 in the early hours of Thursday after the flagship crypto tested the $29,500 support levels for the second time and successfully rebounded amid significant buying pressures.

Rival ethereum was up 7% at 2,004 and Dogecoin was higher by15% at 24 cents per coin, according to Coindesk.

Months after discontinuing its support for bitcoin payments, Tesla’s CEO Elon Musk has revealed that his electric vehicle manufacturing company Tesla might begin to accept payments in the flagship cryptocurrency once again.

It looks like bitcoin is shifting a lot more towards renewables, Musk said without any evidence during a livestream discussion on the B Word Conference with Twitter founder Jack Dorsey on Wednesday.

I wanted to do a bit more 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 then Tesla would resume accepting bitcoin, Musk continued.

Most likely the answer is that Tesla would resume accepting bitcoin. Most likely, said Musk. Musk added that he personally owned bitcoin, ethereum and dogecoin, apart from bitcoin that Tesla and SpaceX owned.

Elon Musk's latest comments are helping to give bitcoin and other cryptocurrencies a boost.

Tesla started accepting bitcoin in late March, only to reverse course less than two months later. Musk said at the time that he was worried about the environmental impact of bitcoin, which requires an enormous amount of energy to mine. But the environmental problems surrounding bitcoin have been known for years and cynics would likely conclude Musk is merely trying to manipulate the price of bitcoin.

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