Tesla CEO Elon Musk said on Sunday that the company will resume bitcoin trading once it is confirmed that miners use clean energy reasonably.
Musk wrote in a tweet: “Tesla will resume allowing Bitcoin transactions when it is confirmed that miners with positive future trends are reasonably (about 50%) using clean energy.”
Concerned about how mining might lead to climate change, Tesla stopped buying cars with Bitcoin in mid-May.
Tesla CEO Elon Musk said on Sunday that the company will resume bitcoin trading once it is confirmed that miners use clean energy reasonably.
“When it is confirmed that miners with positive future trends are reasonably (about 50%) using clean energy, Tesla will resume allowing Bitcoin transactions.”
The above is Musk’s reaction to the comments made by Magda Wierzycka, CEO of South African asset management company Sygnia, who stated that Musk’s tweets about bitcoin prices are “market manipulation” and should trigger an investigation by the US Securities and Exchange Commission.
Tesla revealed in a filing with the US Securities and Exchange Commission in February that it had purchased $1.5 billion worth of bitcoin and stated that it would begin accepting bitcoin as a payment method for its products.
However, the electric car manufacturer stopped buying cars with Bitcoin in mid-May because of concerns about how cryptocurrency mining, which requires a powerful computer bank, could lead to climate change.
Musk said in May: “We are concerned about the rapid increase in the use of fossil fuels in Bitcoin mining and trading, especially coal, which emits the most serious emissions of all fuels.”
On Sunday, Musk disputed Wierzycka’s allegations of market manipulation and explained: “Tesla sold about 10% of its Bitcoin holdings,” to confirm that BTC can be easily liquidated without moving the market. “He said. The company revealed in its financial report that in the first quarter, Tesla sold $272 million worth of “digital assets”, which helped it reduce its operating loss of $101 million.
Musk’s comments on cryptocurrencies on social media often cause prices to soar or plummet, but Sunday seems to have had little effect. According to Coindesk’s data, at about 2:30 pm Eastern Time, the transaction price of Bitcoin was about 37,442 U.S. dollars, an increase of more than 4% that day.
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