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Elon Musk Reveals Tesla Will Resume Accepting Bitcoin as Payment Once Miners Use Clean Energy


June 13, 2021 · By MATheGooner
Bitcoin (BTC)

Tesla CEO Elon Musk says his electric-vehicle company will start accepting Bitcoin (BTC) payments once there’s confirmation that miners are utilizing clean energy.

Musk responded to a Cointelegraph tweet about Sygnia CEO Magda Wierzycka who called on the United States Securities and Exchange Commission to investigate the billionaire for allegedly manipulating Bitcoin’s price.

This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.

When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.

— Elon Musk (@elonmusk) June 13, 2021

According to Wierzycka, Musk knowingly pumped the price of Bitcoin only to sell a “big part of his exposure at the peak.”

“This is inaccurate,” Musk said in a tweet response and also reiterated his defense of having sold 10% of the electric vehicle maker’s bitcoin stash in Q1 and would also seem to indicate the company hasn’t sold anymore. He also added “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”

Elon Musk suspended the electric car-maker’s bitcoin payments policy citing environmental concerns in mid-May. It is unclear how Musk will fact-check miners‘ clean energy usage as there is widespread debate over where the industry currently stands. Founding members of Bitcoin Mining Council confirmed Friday that the Tesla and SpaceX CEO will have no role in the organisation.

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