World-renowned business, Elon MuskThe CEO of the famous car company Tesla announced on Sunday, June 13, 2021, that Tesla will continue to charge with bitcoin as the mining industry confirms the use of sufficient clean energy from now on.
Musk tweeted on Sunday that if miners provide official assurance that at least 50% of clean energy will be used to maintain a positive impact on our environment, Tesla will indeed start Bitcoin stores.
The electric car manufacturer stopped paying batches to customers who were going to pay for the car’s expenses with bitcoin. Tesla took this sudden step in mid-May 2021 because the company had serious concerns about the impact of cryptocurrency mining on climate change. This concern was raised when cryptocurrency mining uses huge pools of powerful computers.
In May, Musk said his company is deeply concerned about the rapid increase in the use of fossil fuels to carry out Bitcoin deals and mining, especially coal, which is known to produce the worst emissions among the entire fuel class.
Musk responded to a tweet from the CEO of the South African treasurer
Magda Wierzycka, CEO of South African Treasurer-Sygnia, tweeted that Elon Musk is trying to manipulate the market by tweeting about Bitcoin prices. He added that Musk’s behavior should lead to a thorough investigation by the U.S. Securities and Exchange Commission.
Tesla’s CEO on Sunday denied Magda Wierzycka’s accusations of market manipulation. He explained that his company has barely sold 10 percent of its holdings in Bitcoin to justify that Bitcoin could be cleared easily without the need to move the market, he said in a tweet.
In addition, by publishing its income statement, Tesla announced the sale of approximately $ 272 million in cryptographic assets during the first quarter, and this transfer helped the company reduce adjustment losses by $ 101 million, as noted in the company’s income statement.
In February 2021, Musk’s company revealed in the SEC archives that it had purchased $ 1.5 billion worth of bitcoin and also confirmed that Tesla would soon begin accepting bitcoin as a batch method for its products.
Often, Tesla owner Elon Musk’s social media statements on the cryptocurrency significantly raise and lower cryptographic prices, but on Sunday it seemed to show an immediate impact as Bitcoin prices rose nearly 8 percent on Sunday during the day.