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Tesla accepts Bitcoin again with a better environmental balance

Tesla accepts Bitcoin again with a better environmental balance

Tesla does not want to accept Bitcoin again until it is mined with more renewable energy. Musk also dealt with price fluctuations. According to company boss Elon Musk, the manufacturer of electric cars Tesla will only accept Bitcoin as a means of payment again when the environmental balance of the digital currency improves significantly. As a benchmark, Musk stated in a tweet on Sunday a share of renewable energies of around 50 percent in Bitcoin production. As a result, the Bitcoin price rose slightly.

Musk and Tesla had made several announcements about Bitcoin in the past few months, which caused the price of the digital currency to fluctuate. First, the company announced that it had invested around 1.5 billion US dollars in Bitcoin and that it would soon also be able to pay for the cars in digital currency.

The possibility was actually introduced in March – and after less than two months it was put on hold again with reference to the poor Bitcoin environmental record. Tesla had previously warned of the risks of buying with Bitcoin.

Tesla and Musk’s announcements are causing Bitcoin to fluctuate

This zigzag rate was also accompanied by fluctuations in the Bitcoin price, which also affected other digital currencies. Musk denied allegations of manipulating the Bitcon course. On the contrary, Tesla sold around ten percent of its Bitcoin holdings to prove that you could sell them without shifting the course significantly.

In May, Musk started a sustainability offensive among miners from North America. They work together for more environmental protection and transparency in the global mining of digital currency. At the beginning of June, a member of the decentralized collective Anonymous threatened Elon Musk with reference to “destroyed lives”. He has robbed millions of small investors of their profits with digital currency.

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About the author

Linda Kelly

Linda Kelly

She has contributed to Perseus Promos, Hazlitt, Rolling Stone, New Republic, Atlantic, GQ, Racked, VICE and The New Inquiry.

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