certify
Home arrow Article arrow Article Detail

Elon Musk says Tesla will re-accept Bitcoin as a mode of payment

Profile Image

Vandana Mrigwani Follow

INDIA

Jul, 22 2021

Jul, 22 2021

likes | comments 0

Article Image

A virtual conference took place at “The B-word” platform. At the conference, Elon Musk made an appearance. Musk said Tesla will re-accept Bitcoin as a mode of payment.

In the conference, Elon Musk said about Tesla how it will accept Bitcoin once the goal for renewable energy for the industry will be fulfilled.

In the conference, Musk revealed the secret of cryptocurrency holding. He said that “I own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin, I own a bit of Ethereum, and I hold dodge coin of course”.

He also clarified how his company invested in Bitcoin. He invested the Bitcoin with BTC holding, the cost of which is more than dodge coin and Ethereum. He made a smart move by keeping the investment amount secret. But the fact is Tesla holds $1.4 billion of Bitcoin. 

Musk discussed all the concerns related to a Bitcoin transaction. The critics of Bitcoin simply cannot scale. He believed that a second layer is necessary to support huge transactions globally. He added on the requirements of higher data and increase bandwidth will automatically increase the speed.

In his statement, he mentioned Starlink is the one that can increase the bandwidth of the Internet. The role of scaling by Starlink which is a SpaceX satellite will play important role in Internet service.

The additional knowledge and possibility of Bitcoin mining through SpaceX Starlink terminals are in high demand. The trading of Bitcoin mining by Tesla again with the help of Starlink internet service worldwide will give a positive result.


likes | comments 0

Profile Image

Vandana Mrigwani

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
WMG team up with OpenSea to expand Web3 opportunities 

WMG?team up?with OpenSea?to expand?Web3 opportunities for artists. This platform will enable artists to?build and extend their fanbase in the Web3 community. The nonfungible token (NFT) marketplace..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.