Tesla will resume accepting Bitcoin [BTC, +12.77%] as a means of payment once the cryptocurrency’s power-hungry miners go halfway green, CEO Elon Musk officially revealed on Sunday. The news appears to possess driven the worth of bitcoin and other crypto-assets up.
Musk halted Tesla’s months-old crypto foray in mid-May citing environmental concerns. But “when there’s confirmation of reasonable [~50%] clean energy usage by miners with the positive future trend, Tesla will resume permitting Bitcoin transactions,” he revealed within the tweet.
It is unclear how Musk will fact-check miners‘ clean energy usage as there’s widespread debate over where the industry presently stands. Even so, the comments offer a primary benchmark for reinstating bitcoin payments at Tesla.
Musk’s also revealed reiterates his defense of getting sold 10% of the electric vehicle maker’s bitcoin stash in Q1 and would also seem to point out that the company hasn’t sold anymore.
Musk’s tweet might have been the propellent to the worth of bitcoin that started a pointy upward move about an hour after the tweet was sent. In recent trading, bitcoin was changing hands at $40,550.21, up 12.77%, and leading a sea of green on the worth page for other crypto assets.