Elon Musk: Tesla Owns Close to 42,000 Bitcoin Worth $1.60 Billion

As you probably know by now, Elon Musk is an important person for the crypto market and whatever he says related to it can influence prices big time.

Now, he has opened up about Tesla’s total Bitcoin (BTC) holdings.

Musk said recently on Twitter that the technology giant owns “close to” 42,000 Bitcoin, which is worth more than $1.60 billion, according to CoinGecko.

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $38,538.07.

Check out his tweet below.

Not too long ago, Musk said that Tesla will likely start accepting Bitcoin payments again.

This will reportedly happen once the mining process becomes more environmentally friendly.

Musk also made sure to point out the fact that a verifiable shift away from coal and toward renewable energy may be underway.

“I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number. If so, Tesla will resume accepting Bitcoin.”

Musk on Bitcoin

Not too long ago, we were revealing that as CNBC noted, Musk also said “Long-term, renewable energy will be the cheapest energy, but it doesn’t just happen overnight.”

He also said: “But as long as there is a conscious and determined, real effort by the mining community to move toward renewables, then obviously Tesla can support that.”

Musk addressed Bitcoin and said that it solves scarcity the most. He addressed the benefits that BTC brings to the financial system and you can check out the video above in order to find out more of what he had to say.

Stay tuned for more news and make sure to keep your eyes on the market.

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