Tesla CEO Elon Musk has tweeted that the e-car manufacturer will resume Bitcoin payments when the cryptocurrency’s clean energy usage reaches the 50 percent threshold:
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
Alex DovbnyaIn addition, Musk denied pumping and dumping Bitcoin, describing the accusations recently made by Sygnia CEO Magda Wierzycka as “inaccurate.”
The centibillionaire has once again confirmed that Tesla only sold 10 percent of its holdings in late April in order to test the cryptocurrency’s liquidity without moving its price.
Tesla suspended Bitcoin payments due to the adverse environmental impact of mining on May 12, triggering a sharp market correction.
According to Ark Investments, over 70 percent of Bitcoin miners are already powered by renewable energy, but estimates can vary widely.
China's ongoing crackdown on the crypto mining industry is expected to accelerate Bitcoin's transition to green power.
@u.today Is ##Tesla going to resume allowing ##Bitcoin payments? ##crypto ##cryptocurrency ##cryptonews ##BTC ##greenenergy ##elonmusk
♬ original sound - U.Today
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Dan Burgin
Vladislav Sopov