Elon Musk's comments that Tesla might soon start accepting bitcoin again soon saw the cryptocurrency soar above $ 32,000.
It comes after Musk said in May that an electric car maker would stop accepting bitcoins when purchasing cars for environmental reasons.
Tesla investors and environmentalists have critically assessed the way bitcoin is "mined" using huge amounts of electricity generated from fossil fuels.
"I wanted a little more due diligence to confirm that the percentage of renewable energy consumption is likely to be 50% or more, and that there is a tendency to increase that number, and if it did, Tesla would resume accepting bitcoin," he said.
"Most likely the statement sounds in the context that Tesla would resume accepting bitcoin."
Musk said he personally owned bitcoin, ethereum, and dogecoin, with the exception of the bitcoin that Tesla and SpaceX owned.
"I can pump, but I don't quit," Musk said. "I definitely don't believe in high pricing and selling ... I wish Bitcoin would be successful."
In the BTC chart, we have a good situation with the volume. The last decline is when trading increases, and then increases as the price increases. Unfortunately, the second picture shows that we are still in a downtrend and until we stay under the line, the power of sellers is greater.