Tesla CEO Elon Musk has announced that his electric car company will again start accepting bitcoin for payments when “reasonable (about 50%) clean energy use by miners is confirmed with a positive future trend.” .
Elon Musk Reveals When Tesla Will Start Accepting Bitcoin
Tesla CEO Elon Musk talked about when Tesla will start accepting bitcoin for payment on Sunday. He wrote:
Once reasonable (~50%) clean energy use by miners is confirmed with a positive future trend, Tesla will resume allowing bitcoin transactions.
Tesla began to accept Bitcoin for car payments in March. Musk confirmed at the time that any B T c Received will not be converted into fiat currencies. The company then announced in a filing with the US Securities and Exchange Commission (SEC) that it had purchased $1.5 billion worth of bitcoins. In April, its bitcoin stash was $2.5 billion value.
However, Tesla suspended Accepting bitcoin as a payment option in May, citing environmental issues. Musk met with North American bitcoin miners to discuss the use of renewable energy in mining. miners later established bitcoin mining council. However, Musk confirmed that Tesla not sold Any bitcoin due to environmental concerns.
The company sold some coins during the first quarter of this year, however, before mining issues surfaced. During Tesla’s Q1 2021 earnings announcement, Master of Coin Zachary Kirkhorn revealed that the company layoff its B T c 10% position. Musk explained at the time that B T c The sale was “essentially meant to prove the liquidity of bitcoin as an alternative to keeping cash on the balance sheet.”
In response to Musk’s Sunday tweet allegations Quoted in Cointelegraph article. Signia CEO Magda Wirzyca alleges that Tesla Technoking The bitcoin market was manipulated and the SEC should investigate it. South African billionaire believes Musk intentionally pumped bitcoin with announcement that Tesla was going to accept B T c And then “sold a substantial portion of his exposure to the extreme.”
Musk, however, denied the allegations. “This is wrong,” he tweeted, reiterating an earlier explanation of why Tesla sold some bitcoins:
Tesla sold only ~10% of holdings to be confirmed B T c Can be easily liquidated without moving the market.
What do you think of Elon Musk’s comments on bitcoin and when Tesla will resume accepting cryptocurrencies for payment? Let us know in the comments section below.
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