Elon Musk plans when Tesla will start accepting Bitcoin payments

Tesla CEO Elon Musk stated that his electric car company will start accepting Bitcoin (Bitcoin) Once it is confirmed that the miners are using clean energy, it will bring a glimmer of hope that the FUD surrounding digital assets may soon fade.

Musk responded to Cointelegraph’s tweet about the recent allegations of Sygnia CEO Magda Wierzycka, who called on the US Securities and Exchange Commission to investigate the billionaire’s alleged manipulation of bitcoin prices.

According to Wertzka, Musk deliberately inflated the price of Bitcoin Just to sell “most of his exposure during the peak period”.

“This is inaccurate,” Musk Say In Sunday’s response. “Tesla only sold about 10% of the shares to confirm that BTC can be easily liquidated without moving [the] market. “

As Cointelegraph reported, Musk admitted in April that Tesla had sold some of its Bitcoin assets Prove that its liquidity is a substitute for cash.Just a month ago, the billionaire confirmed Tesla added $1.5 billion worth of BTC To its balance sheet and will begin accepting virtual assets as payment for its vehicles.

However, after Musk expressed concerns about the energy use of cryptocurrencies, Tesla’s acceptance of Bitcoin payments was short-lived. May 12, Musk Tweet As the network “uses fossil fuels more and more quickly…”, his company will no longer accept Bitcoin payments.

Musk’s tweet coincided with a series of negative headlines about Bitcoin energy use, China’s plan to ban Bitcoin mining, and excessive cryptocurrency gains showing signs of weakness. The news cycle triggered one of Bitcoin’s most painful events, It ended up falling 54% between mid-April and mid-May.

related: ‘I did not sell any of my bitcoins”: Elon Musk.

On Sunday, Musk laid the foundation for when Tesla will accept Bitcoin payments again:

“When it is confirmed that miners with positive future trends are reasonably (about 50%) using clean energy, Tesla will resume allowing Bitcoin transactions.”

As reported by Cointelegraph, Musk was recently invited by MicroStrategy CEO Michael Seller to participate in the Bitcoin Miners Conference.This Bitcoin Mining CouncilIt is a voluntary, self-regulating industry organization that stood out from the conference and recommitted to using clean energy and increasing the transparency of the mining process.

Despite being criticized, estimated The vast majority of Bitcoin miners do use renewable energy.