Tesla Will Accept BTC Again Once Miners Use 50% Clean Energy

Tesla will accept BTC again once the miners use 50% clean energy as Elon Musk promised and the price of the number one cryptocurrency increased after the announcement so let’s read more in our latest bitcoin news today.

Elon Musk tweeted about Tesla and Bitcoin again and the price of the coin went up as a reversal from the recent history between the Tesla CEO and the number one cryptocurrency. He tweeted about Tesla and Bitcoin and the coin immediately reacted. The Dogecoin lover said in a tweet that Tesla will accept BTC again once and if there’s confirmation of reasonable or up to 50% clean energy usage by miners with positive future trends. BTC popped 1% after the tweet to ,650.
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The new tweet was a response to a story in the media about Magda Wierzycka who is the CEO of fintech company Sygnia who accused Musk of creating a pump and dump scheme after Tesla bought $1.5 billion in BTC and then she said that he sold a huge chunk of his exposure at the peak. Musk dismissed Wierzycka’s criticism as inaccurate adding that Tesla sold about 10% of his holdings to confirm BTC will be liquidated easily without the moving market. Musk did say back in April that Tesla sold about 10% of his holdings to prove the liquidity of BTC as an alternative to holding cash on the balance sheets.

Over the past year, Musk’s tweets moved crypto prices up and down. Tesla’s BTC purchase gave a huge boost to both TSLA and BTC but then his tweet in May that he will no longer accept bitcoin payments for Tesla due to environmental concerns prompted a major pullback that continued after his tweets. In the meantime, he favored Dogecoin instead and his meme tweets boosted the price of the asset as well. Price charts show that the Elon Effect on crypto prices is alive and after his latest Tweet about bitcoin which broke the $35,000 resistance for the first time, we can only confirm it.

The debate over bitcoin’s environmental impact grew louder over the past year and prompted criticism to call for more BTC mining that uses renewable energy. The current portion of BC mining which already uses renewable energy is in dispute while a 2020 report from the Cambridge Centre for Alternative Finance estimated that 39% of the BTC mining activities use renewable energy.