Elon Musk has taken to Twitter to confirm that electronic car manufacturer, Tesla, will resume accepting Bitcoin as a payment method, but only once 50% of the energy used by miners is clean energy, and shows a positive future trend.
Musk was reacting to comments from Magda Wierzycka, CEO of South African financial services company, Sygnia, who claimed that Musk’s tweets on Bitcoin were market manipulation and should have warranted an investigation by the U.S. Securities and Exchange Commission (SEC).
In May 2021, Musk announced that Tesla had stopped accepting BTC as a payment method, citing environmental concerns as an influencing factor for the company’s decision:
“We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
It is unclear how the centibillionaire plans to fact-check miners‘ clean energy usage.
Soon after Musk said that Tesla may still accept Bitcoin in the future, the price of the digital asset jumped by more than 5%. It seems that Musk’s tweets can, and do, move the crypto market.
Feature image by Hashant Services from flickr