Elon Musk Says Tesla Will Continue Accepting Bitcoin Once Miners Approve 50% Clean Energy Use

Tesla CEO Elon Musk announced that when there is "confirmation of reasonable (about 50%) clean energy use by miners with a positive future trend", the electric car company will again accept Bitcoin for payments. Elon Musk reveals when Tesla will continue to accept Bitcoin Tesla CEO Elon Musk spoke on Sunday about when Tesla will continue to accept bitcoin for payments. He wrote: Tesla will continue to allow Bitcoin transactions when there is confirmation of reasonable (~50%) clean energy use by miners with a positive future trend. Tesla started accepting bitcoin for car payments in March. Musk confirmed that any BTC received will not be converted into fiat currencies. This comes after the company declared to the US Securities and Exchange Commission (SEC) that it had purchased $1.5 billion worth of bitcoin. In April, his bitcoin stash was worth $2.5 billion. However, Tesla suspended the adoption of bitcoin as a payment option in May, citing environmental concerns. Musk later met with North American bitcoin miners to discuss the use of renewable energy in mining. The miners later formed the Bitcoin Mining Council. Still, Musk confirmed that Tesla does not sell bitcoin due to environmental concerns. However, the company sold some coins in the first quarter of this year before the mining problems surfaced. During the announcement of Tesla's first quarter 2021 earnings, Master of Coin Zachary Kirkhorn announced that the company had reduced its BTC position by 10%. Musk explained that at the time, the BTC sale "essentially proving the liquidity of bitcoin as an alternative to holding cash on its balance sheet." Musk's tweet on Sunday came in response to the allegations made in a Cointelegraph article. Sygnia CEO Magda Wierzycka claimed that Tesla technology is manipulating the bitcoin market and the SEC should investigate it. South African billionaire believes Musk knowingly pumped bitcoin by announcing that Tesla will accept BTC

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