Elon Musk: Tesla will 'likely' accept Bitcoin in the future

Elon Musk has revealed Tesla will "most likely" accept Bitcoin again in the future.

The electric car manufacturer's CEO - who still owns the cryptocurrency personally - hinted he could reverse May's decision to stop accepting it.

Speaking during the B Word cryptocurrency conference, Musk explained he wants to see digital currency mining - and its associated operations - to make better use of renewable energy throughout the process.

He insisted renewable energy should make up at least 50% of that used, and the figure should be on the rise.

Back in May, Musk confirmed Bitcoin would no longer be expected due to concerns over climate change, and the decision came just two months after an announcement that the cryptocurrency would be accepted for sales after buying $1.5 billion (£1 billion) of the currency in February.

Now, he has said: "Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment."

However, Musk also confirmed Tesla isn't selling its Bitcoin and will instead wait until "mining transitions to more sustainable energy".

© BANG Media International