Connect with us

Digital Assets

Tesla Could Help Bitcoin Transition To Clean Energy, says Elon Musk




Elon Musk

Elon Musk, the CEO of Tesla and SpaceX, once again made the news during his recent attendance of The B Word — a popular conference about Bitcoin. While speaking at the conference (conference video below), Musk stated that Tesla could play a major role in the future of Bitcoin, specifically — he believes that Tesla could help Bitcoin transition to clean energy.

Tesla could help Bitcoin transition to renewable energy

Musk spoke at The B Word conference this Wednesday, July 21st. The conference is popular in the cryptocurrency industry, and it focuses on Bitcoin, as well as other digital currencies. During the panel, Steve Lee — Square Crypto lead — inquired what might be the solution for the energy-intensive Bitcoin industry. Specifically, he wanted to know what can be done to speed up Bitcoin’s shift to renewable, clean energy.

Then, Lee asked the crucial question — whether or not Tesla itself could play some role in this transition?

Musk surprised the crypto fans by saying that he thinks that Tesla could play a role. He implied that Tesla’s entire reason or existence was to help the entire world transition to clean energy, and that includes Bitcoin in Musk’s eyes.

Musk did not elaborate much on the idea, as he had a reflective moment immediately after making these statements, looking back at Tesla’s growth and development, but also on many challenges and issues that he had to go through because of this particular company. In fact, he stated that he had “some pretty tough life experiences, and Tesla’s probably responsible for two-thirds of all personal and professional pain combined.”

Musk is not done with Bitcoin

As many likely remember, Musk announced early in 2021 that Tesla will start accepting Bitcoin payments for its electric cars. However, a few months later, he announced that the company has decided to stop accepting these payments due to Bitcoin not being environmentally friendly. By saying this, he referred to Bitcoin mining — the process of releasing new Bitcoin into circulation.

Mining BTC requires large quantities of various resources, including expensive mining gear, massive amounts of electricity, computing power, and alike. However, given his recent statement, it would seem that Musk and Tesla are not finished with Bitcoin, despite discontinuing BTC payments.

It is also worth noting that Musk mentioned that he personally holds BTC, ETH and DOGE, the bulk of which is BTC.  SpaceX also holds BTC.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN,, Bitcoinist, and NewsBTC.

Newsletter Subscription

Advertiser Disclosure: is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. We may receive compensation when you click on links to products we reviewed.

ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio. is not a registered broker, analyst, or investment advisor.