Electric car maker Tesla CEO Elon Musk said at a conference on Wednesday that Tesla is likely to accept bitcoin payments again.
Mr Musk's comments came after Tesla said in May that he would stop accepting bitcoin to buy cars.
At the "The B Word" meeting hosted by the encryption Innovation Committee, Musk discussed the future of the cryptocurrency with Ark Investment Management director Cathie Wood, Twitter CEO Jack Dorsey and other bitcoin supporters.
Musk said that in addition to the bitcoin owned by Tesla and SpaceX, he also owns Bitcoin, Ethernet Square and Dog Coin.
"I want to see Bitcoin succeed," Musk said. "if the price of Bitcoin falls, I will lose money."
Musk said that once the burden of bitcoin mining on the environment is reduced, Tesla is likely to resume accepting bitcoin purchases.
"it looks like Bitcoin is moving more towards renewable energy," Musk said. "I want to wait until it is confirmed that the percentage of renewable energy use reaches or exceeds 50%."
As of press time, Bitcoin rose 8 per cent to $32160.16 and ethercoin rose 11.6 per cent to $1993.36.