June 14, 2021: Elon Musk, chief executive officer of Tesla Inc., tweeted on Sunday that the electronic carmaker would resume allowing bitcoin transactions when miners who verify transactions use more renewable energy.
“Once the use of clean (~ 50) clean energy is confirmed by positive future minded miners, Tesla will resume allowing bitcoin transactions,” he said in a tweet.
The bitcoin rose 5.10% percent to $37,103.63 on Sunday. Following Musk’s tweet, adding $1,817.87 to its previous close. Musk also said that Tesla sold about 10% of the shares to confirm that Bitcoin could be easily liquidated without moving it to the market.
He announced in May that Tesla would no longer accept Bitcoin for car purchases, which has long raised environmental concerns for a sharp reversal of the company’s position on cryptocurrency. Bitcoin fell more than 10% after the tweet. The billionaire said he believes cryptocurrency has a future, but it cannot be too expensive for the environment.
Earlier on in February this year, Tesla revealed that it had bought a $1.5billion worth of bitcoin and would accept it as a form of vehicle payment.
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