Tesla will resume accepting bitcoin when it uses more clean energy, says Musk
“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions,” Musk, the company’s CEO, said in a tweet on Sunday.
The price of one bitcoin rose above $39,500 (£33,950) on Monday morning in the UK, an increase of by 10% since midday BST on Sunday.
Musk also said that Tesla sold about 10% of its holdings to confirm bitcoin could be liquidated easily without moving the market.
He announced in May that Tesla would no longer accept bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company’s position on the cryptocurrency. In February, Tesla revealed it had bought $1.5bn of bitcoin and would accept it as a form of payment for cars. But the cryptocurrency’s production is at odds with the company’s mission toward a “zero-emission future”.
The billionaire said that he believed cryptocurrency has a promising future, but it cannot be at great cost to the environment.
