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Elon Musk Announces Tesla Will Accept Bitcoins Again When Miners Use More Clean Energy
15 Jun, 2021 / 03:51 am / OMNES Media LLC

Source: https://in.mashable.com/

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Elon Musk is known for making waves on the internet with his tweets and he has done it again! Tesla CEO recently tweeted that the electric carmaker will resume allowing bitcoin transactions. Soon after Musk posted the tweet, Bitcoin rose 5.1% to $37,360.63 at 1810 GMT (2:10 p.m. ET) on Sunday, reports Reuters.

In a tweet, Musk said that once there’s confirmation of “reasonable (~50%) clean energy usage” by miners, Tesla will resume its cryptocurrency transactions. Ever since its posting, the tweet has received over 50,000 likes, 13,000 retweets, and 9,000 comments. Check it out:

It was back in May when Bitcoin went down as much as 17% after Elon Musk had tweeted that Tesla will stop accepting bitcoin for purchases of its vehicles. Musk had cited climate concerns stating, “we are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel”. This led to the price of Bitcoin plunging from $54,819 to $45,700, shortly after the tweet.

Moreover, Elon Musk soon also suggested, few days after the bitcoin tweet, that he might create his own cryptocurrency if Dogecoin doesn’t work out. A Twitter user had questioned Musk as to why can’t Tesla CEO create his own cryptocurrency, to which Musk replied, “only if Doge can’t do it. Big pain in the neck to create another one”.