Bitcoin
Tesla Will Resume Taking Bitcoin as Payment Once Miners Go 50% Green, Musk Says
Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk tweeted on Sunday that the electric carmaker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy.
Tesla will resume accepting bitcoin as payment once the cryptocurrency’s power-hungry miners go halfway green, CEO Elon Musk tweeted.
Musk halted Tesla’s months-old crypto foray in mid-May citing environmental concerns. But “when there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions,” he said in the tweet.
It is unclear how Musk will fact-check miners‘ clean energy usage as there is widespread debate over where the industry currently stands. Even so, the comments provide a first benchmark for reinstating bitcoin payments at Tesla.
Musk’s tweet also reiterates his defense of having sold 10 percent of the electric vehicle maker’s bitcoin stash in Q1 and would also seem to indicate the company hasn’t sold anymore.