Elon Musk Says Tesla Will Accept Bitcoin Again If Miners Confirm 50% Clean Energy Use – News Bitcoin News

Elon Musk, CEO of Tesla, has announced that his electric car company will again accept Bitcoin for payments if “an adequate (approx.

Elon Musk reveals when Tesla will accept Bitcoin again

Tesla boss Elon Musk spoke about when Tesla will accept Bitcoins for payments again on Sunday. He wrote:

If the confirmation of reasonable (~ 50%) clean energy consumption is confirmed by miners with a positive future trend, Tesla will allow Bitcoin transactions again.

Tesla started accepting Bitcoin for car payments in March. Musk confirmed at the time that BTC received will not be converted into fiat currencies. This followed the company’s filing with the SEC that it had purchased $ 1.5 billion worth of Bitcoin. In April, his Bitcoin stash was worth $ 2.5 billion.

However, Tesla suspended accepting Bitcoin as a payment option in May, citing environmental concerns. Musk then met with North American bitcoin miners to discuss the use of renewable energy in mining. The miners then founded the Bitcoin Mining Council. Still, Musk confirmed that Tesla hadn’t sold bitcoins for environmental reasons.

However, the company sold a few coins in the first quarter of this year before the mining problems surfaced. During Tesla’s earnings announcement for the first quarter of 2021, Master of Coin Zachary Kirkhorn announced that the company had reduced its BTC position by 10%. Musk stated at the time that the BTC sale was “essentially about demonstrating Bitcoin’s liquidity as an alternative to keeping cash on balance sheet.”

Musk’s Sunday tweet was in response to accusations quoted in a Cointelegraph article. Sygnia CEO Magda Wierzycka claimed that the Tesla Technking had manipulated the Bitcoin market and that the SEC should investigate it. The South African billionaire believes Musk knowingly pumped Bitcoin with the announcement that Tesla would accept BTC and then “sold a large part of his stake at the peak”.

Musk, however, denied the allegations. “That’s inaccurate,” he tweeted, repeating his earlier explanation of why Tesla was selling some bitcoins:

Tesla only sold ~ 10% of its holdings to confirm that BTC could easily be liquidated without moving the market.

What do you think of Elon Musk’s comments on Bitcoin and when will Tesla accept cryptocurrency for payments again? Let us know in the comments section below.

Tags in this story

Accepting Bitcoin, Accepting BTC, Bitcoin Miners, Bitcoin Mining Council, Bitcoin Payments, Bitcoin Tesla, Clean Energy, Clean Energy Use, Elon Musk, Tesla Accepting Bitcoin, Tesla Bitcoin, Tesla CEO, Tesla Accepting Bitcoin Again

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