Elon Musk announced the possible resumption of sales of Tesla cars for bitcoins

The founder of automaker Tesla, Elon Musk, said that the company may once again begin accepting bitcoins as a means of payment. He made the statement during a speech at the B-Word conference on July 21.

The American entrepreneur said that in obtaining this cryptocurrency, renewable energy sources are increasingly being used recently. He also expects to make sure that bitcoin mining is at least 50 percent powered by clean energy.

“If this is indeed the case, Tesla will most likely start accepting bitcoins again,” Reuters quoted Musk as saying.

The Tesla CEO stressed that the company’s mission is to accelerate the emergence of sustainable energy.

“We can’t be a company that does that and yet doesn’t pay proper attention to bitcoin energy use,” the entrepreneur added.

In May, Tesla said it would stop accepting bitcoins for car purchases. This came less than two months after the company began accepting the digital currency for payment. At the time, Musk said Tesla would not sell its own bitcoins until they were mined using sustainable energy sources.

He noted that cryptocurrencies have a promising future, but should not be allowed to develop at the expense of “a huge cost to the environment.”

On February 20, the head of Tesla called the current prices of Bitcoin and Etherium cryptocurrencies inflated. Cryptocurrency, explained Musk, like conventional money, is a set of data to avoid the inconvenience of barter exchange. In addition, the businessman noted that cryptocurrency, like any data system, is subject to late responses and errors.

Cryptocurrency is a type of digital currency whose creation is based on cryptographic methods. Such systems function based on blockchain technology, a decentralized database in which information storage devices are not connected to a common server.