The price of Bitcoin started surging again after Tesla CEO Elon Musk said that the company may start accepting the cryptocurrency again once at least half of the mining starts using clean energy.
“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk tweeted Sunday afternoon.
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.
— Elon Musk (@elonmusk) June 13, 2021
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
Elon Musk also said that Tesla sold about 10 percent of its Bitcoin holdings to confirm that the cryptocurrency could be liquidated easily without moving the market.
The price of Bitcoin jumped to more than $39,400 on Monday after the Tweet.
It bears mentioning that Tesla started accepting Bitcoin for transactions for its electric vehicles in late March. However, the company announced in May that it will no longer use the cryptocurrency as a form of payment.
Elon Musk said that cryptocurrency has a great future, but it cannot be at a great cost to the environment.
Read more: Tesla will no longer accept Bitcoin, says Elon Musk.
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