Musk sets a condition for buying Tesla cars with Bitcoin


Tesla CEO Elon Musk confirmed Sunday that his electric car company will resume allowing bitcoin transactions when currency providers use mining methods based on renewable energy.

Mask said in a tweet“When there is confirmation of the reasonable use of clean energy, approximately 50 percent, by miners with a positive future trend, Tesla will resume allowing bitcoin transactions.”

Bitcoin rose 9.83 percent to $39.035.47 at 22:05 GMT Sunday, adding $3492.71 to its previous close.

The price of the largest and most popular cryptocurrency in the world, increased by 40.7 percent from its lowest level in the year at $ 27,734, on January 4.

Musk also noted that Tesla has sold about 10 percent of its holdings to confirm that bitcoin can easily be liquidated without moving the market.

Musk had announced in a tweet, in May, that “Tesla” would not accept bitcoin to buy cars, citing long-term environmental concerns for a rapid reversal of the company’s stance on the cryptocurrency, to witness a decline of more than 10 percent after his tweet.

The billionaire said he believes cryptocurrencies have a promising future, but that they cannot come at a significant cost to the environment.

In February, Tesla revealed that it had bought $1.5 billion in bitcoin and would accept it as a form of payment for cars.


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