Elon Musk Says Tesla Would Reconsider Bitcoin If Environmental Impact Is Reduced
Image via Arcansel / Shutterstock.com
On Sunday, June 13, Tesla CEO Elon Musk sent the cryptocurrency world abuzz once again, with new comments about Bitcoin.
Previously, Tesla halted transactions using Bitcoin over climate change concerns. The brand had said it was growing increasingly concerned over the use of fossil fuels for Bitcoin mining and transactions.
In a new update, Musk said that when it can be confirmed that Bitcoin uses enough clean energy (approximately 50%), Tesla will resume transactions using the cryptocurrency.
Some users on social media disagreed with the Tesla Techno King, saying they felt Bitcoin was already using a sufficient percentage of clean energy, or asking for further details on Tesla’s benchmark.
Musk’s latest comment came after the CEO of a financial services firm in South Africa urged the US to look into Musk’s Bitcoin tweets, to determine if he was engaging in “market manipulation.”
“The [Bitcoin] volatility we have seen is an unexpected function of what I would call market manipulation by Elon Musk,” said Sygnia CEO Magda Wierzycka, as per Newsweek.
“If that happens to a listed company, he would be investigated and severely sanctioned by [the] SEC.”
Musk responded to the allegation in a tweet, saying it was “inaccurate.”
“Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving the market,” he explained.
While it remains to be seen how soon Bitcoin mining can pivot to cleaner energy sources, it’s undoubtable that Musk is currently one of the most influential figures in cryptocurrency.
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.
— Elon Musk (@elonmusk) June 13, 2021
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
#bitcoin is already +70% clean energy. Keep up lad.
— Peter McCormack 🇸🇻 (@PeterMcCormack) June 13, 2021
any details on what Tesla would consider reasonable confirmation?
— Tom Anderson (@myspacetom) June 13, 2021
[via Newsweek, cover image via Arcansel / Shutterstock.com]
Also check out these recent news
