Musk Says Tesla to Use Bitcoin Transactions When Mining Cleaner

By Bloomberg 13 June 2021
Elon Musk Photographer: Maja Hitij/Getty Images

Tesla Inc. will resume allowing Bitcoin transactions when mining the digital coin is done with more clean energy, Elon Musk said in a tweet Sunday.

By Jim Silver and Matthew G. Miller

Word Count: 220
(Bloomberg) — 

The transactions will start back up “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend,” Musk said after confirming the electric-car maker had sold about 10% of its Bitcoin holdings.

The billionaire said the sale was done “to confirm BTC could be liquidated easily without moving market.” His tweet was in reply to a report in Cointelegraph, which cited Magda Wierzycka, executive chair of South African asset manager Sygnia, as saying Musk’s recent tweets on Bitcoin should have prompted an investigation by the U.S. Securities and Exchange Commission.

The cryptocurrency was up 4.1% to $37,494.43 as of 2:59 p.m. in New York. The billionaire has whipsawed Bitcoin and other digital tokens with a string of social media posts in the past few months.

What’s Behind Elon Musk’s Crypto-Evangelism: Hyperdrive Daily


Comments - share your knowledge and experience

Please note you must be a Maverick Insider to comment. Sign up here or sign in if you are already an Insider.

Everybody has an opinion but not everyone has the knowledge and the experience to contribute meaningfully to a discussion. That’s what we want from our members. Help us learn with your expertise and insights on articles that we publish. We encourage different, respectful viewpoints to further our understanding of the world. View our comments policy here.

All Comments 1

  • I join Magda in wondering why on earth there has not been an inquiry into the Tesla/Musk manipulation of Bitcoin value. After buying and talking up Bitcoin they used the Bitcoin profit in their quarterly results showing positive earnings ( not from Tesla but from Bitcoin) Tesla then sells off 10% before(?) querying the coins carbon footprint! The regulators seem to be deliberately looking elsewhere with this one…weird?


    Appeal court confirms Khehla Sitole’s ‘breach of duty’ – his job as head of SAPS now untenable

    By Marianne Thamm