Tesla to use Bitcoin transactions when mining cleaner: Elon Musk

The transactions will start back up “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.”
SpaceX owner and Tesla CEO Elon Musk.(REUTERS)
SpaceX owner and Tesla CEO Elon Musk.(REUTERS)
Updated on Jun 14, 2021 03:11 AM IST
Copy Link
Bloomberg |

Bitcoin jumped above $39,000 after Elon Musk said Tesla Inc. would resume transactions with the cryptocurrency when mining is done with more clean energy.

The transactions will start back up “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.”

Musk also reiterated the electric-car maker had sold about 10% of its Bitcoin holdings to demonstrate the token’s liquidity.

His tweet was in reply to a report in Cointelegraph, which cited Magda Wierzycka, executive chair of South African asset manager Sygnia, as saying Musk’s recent tweets on Bitcoin should have prompted an investigation by the US Securities and Exchange Commission.

The cryptocurrency was up as much as 9.3% to $39,371.93 on Sunday in New York. The billionaire has whipsawed Bitcoin and other digital tokens with a string of social media posts in the past few months.


SHARE THIS ARTICLE ON
Close Story
SHARE
Story Saved
OPEN APP
×
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Sunday, November 28, 2021