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Musk says Tesla will accept bitcoins when miners use more clean energy

Stock MarketsJun 13, 2021 20:26
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© Reuters. FILE PHOTO: A Tesla car is seen in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson/File Photo

(Reuters) -Tesla Inc Chief Executive Officer Elon Musk tweeted on Sunday that the electric carmarker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy.

"When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," he said in a tweet.

Bitcoin rose 5.1% to $37,360.63 at 1810 GMT (2:10 p.m. ET) on Sunday, adding $1,817.87 to its previous close, after Musk's tweet.

Musk also said that Tesla sold about 10% of holdings to confirm bitcoin could be liquidated easily without moving market.

He announced in May that Tesla would no longer accept bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency. Bitcoin fell more than 10% after his tweet.

The billionaire said that he believed cryptocurrency has a promising future, but it cannot be at great cost to the environment.

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

Musk says Tesla will accept bitcoins when miners use more clean energy
 

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Comments (7)
Akim Ahmad
Akim Ahmad Jun 13, 2021 23:57
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go NEXO
Akim Ahmad
Akim Ahmad Jun 13, 2021 23:56
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buy NEXO
Akim Ahmad
Akim Ahmad Jun 13, 2021 23:56
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buy NEXO. thanks me later
Akim Ahmad
Akim Ahmad Jun 13, 2021 23:55
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buy NEXO. thanks me later
Gareth weekes
Gareth weekes Jun 13, 2021 21:24
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Tesla cars made of recycled material and made by renewable energy.
Mark Olive
magicpiano Jun 13, 2021 20:31
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So new hydro electric dam. The electricity could be used to reduce the need for coal power generation or for mining bitcoin. Using green energy does not help!
Pedro Gonzalez
Pedro Gonzalez Jun 13, 2021 20:31
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mining is 24x7 many renewable sources aren't used as storage isn't an option. bitcoin is a store of energy
JL Ragnarok
JL Ragnarok Jun 13, 2021 20:31
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Bitcoin a store of energy?? How can i get that energy out then without internet?? BS! Cryptocurrency is a store of money of used energy.
Pedro Gonzalez
Pedro Gonzalez Jun 13, 2021 19:52
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buy Argo Blockchain #arb
Duncan oatham
Duncan oatham Jun 13, 2021 19:52
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100%
Asl Qpr
Asl Qpr Jun 13, 2021 19:52
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Spot on fella, arbkf if your US markets, this thing is about to explode.
 
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