Billionaire Elon Musk said on Sunday that Tesla will resume bitcoin transactions once it confirms that there is reasonable use of clean energy by miners.
“When there is confirmation of reasonable use of around 50% of clean energy by miners with a positive future trend, Tesla will resume allowing bitcoin transactions.”
“We are concerned about the rapid increase in the use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said in May.
Musk also questioned Wierzycka's allegations of market manipulation, stating: "Tesla has sold approximately 10% of its bitcoin holdings" to confirm that BTC can easily be liquidated without moving the market.
Tesla revealed in its earnings statement, during the first quarter, that Tesla sold $272 million worth of “digital assets,” which helped it reduce operating losses by $101 million.
Musk's tweet often drive prices higher or lower, bitcoin prices are up about 8% after his statements.
In February, Tesla revealed that it had bought $1.5 billion worth of bitcoin and said it would begin accepting bitcoin as a payment method for its products, however, the e-vehicle manufacturer stopped buying cars with bitcoin in mid-May over concerns about how crypto-mining, which requires banks of powerful computers, could contribute to climate change.
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