Home Tech Tesla only accepts Bitcoin payments if it uses clean energy

Tesla only accepts Bitcoin payments if it uses clean energy


Elon Musk said that electric car company Tesla will restore payments in Bitcoin if the trader can prove it uses renewable and cleaner energy.

On June 13, Tesla CEO tweeted that he will accept Bitcoin electric vehicle payments again. However, this only happens when Bitcoin miners can prove that about 50% of the energy they use is clean energy. According to Reuters, Bitcoin price increased 5% to 37,360.63 USD at 1:10 am on June 14 (Vietnam time) after Mr. Musk’s tweet. Musk also said that Tesla will sell about 10% of its Bitcoin holdings to show that Bitcoin can be easily liquidated. During the first quarter of the year, Tesla sold about $272 million in “virtual assets,” which reduced its operating loss by $101 million. Tesla CEO comments about cryptocurrencies often cause price fluctuations. As a result, he was criticized by CEO Magda Wierzycka of asset management company Sygnia as a “market manipulator” and that the US Securities and Exchange Commission (SEC) should investigate. In February, Tesla revealed in an SEC filing that it had purchased $1.5 billion in Bitcoin and would accept Bitcoin as payment for its products. However, then the electric car company paused due to concerns about the method of mining virtual currency, which requires huge electricity consumption, affecting climate change. “We are concerned about the rapidly increasing use of fossil fuels to mine and trade Bitcoin, especially coal, which is the worst emitter,” Musk tweeted in May. Du Lam (According to Reuters)