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Elon Musk, CEO of Tesla.
Alliance Christophe Gateau / photo via Getty Images
Tesla CEO Elon Musk said on Sunday that the company will resume bitcoin transactions once it confirms miners are using reasonable clean energy.
“When there is confirmation of reasonable (around 50%) clean energy use by miners with a positive future trend, Tesla will resume allowing bitcoin transactions.”
Musk reacting to comments from Magda Wierzycka, CEO of South African asset manager Sygnia, who said Musk’s tweets on bitcoin prices were “market manipulation” and should have triggered a Securities and Exchange investigation United States Commission.
Tesla revealed in an SEC filing in February that it had purchased $ 1.5 billion worth of bitcoin and said it would start accepting bitcoin as a payment method for its products.
However, the electric car maker halted car purchases with bitcoin in mid-May over concerns over how cryptocurrency mining, which requires powerful computer banks, is contributing to change. climate.
“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 all fuels,” Musk said in May.
On Sunday, Musk disputed Wierzycka’s allegations of market manipulation, explaining, “Tesla sold about 10% of its bitcoin holdings” to confirm that BTC could be liquidated easily without moving the market, “he said. “digital assets,” which helped it cut its operating losses by $ 101 million, the company disclosed in its income statement.
Musk’s comments on social media about the cryptocurrency often push prices up or down, but seemed to have little effect on Sunday. Bitcoin was trading around $ 37,442, according to Coindesk, around 2:30 p.m. ET, up more than 4% on the day.
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