August 3, 2021

Newspay

Bitcoin & Ethereum Blockchain News

Elon Musks lays out when Tesla will begin accepting Bitcoin payments again

Tesla CEO Elon Musk says his electric-vehicle company will start accepting Bitcoin (BTC) payments once there’s confirmation that miners are utilizing clean energy, offering a glimmer of hope that the FUD surrounding digital assets could soon subside.

Source: cointelegraph.com

Musk responded to a Cointelegraph tweet on Friday about recent accusations from Sygnia CEO Magda Wierzycka, who called on the United States Securities and Exchange Commission to investigate the billionaire for allegedly manipulating Bitcoin’s price.

According to Wierzycka, Musk knowingly pumped the price of Bitcoin only to sell a “big part of his exposure at the peak.”

“This is inaccurate,” Musk said in response. “Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving [the] market.”

As Cointelegraph reported, Musk confirmed in April that Tesla had sold a portion of its Bitcoin holdings to prove its liquidity as an alternative to cash.

The Tesla CEO also laid out the conditions for Tesla to once again start accepting BTC payments:

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”

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