Musk hasn’t been silent lately over the allegations that he is influencing the price of BTC as he deems fit.
Elon Musk, the man on top of Tesla, has admitted that his vehicle-making factory will not hesitate to accept bitcoins if renewable energy is used for its mining. This statement has put to death some fears harbored in the hearts of many crypto traders.
The tweet that really got him pissed off was that from the CEO of Syngnia,, Magda Wierzycka who said it was important for the U.S. SEC to monitor Elon Musk based on his connection to BTC price fluctuations. Musk in a tweet reminded his followers that 90% of Tesla’s BTC is still intact.
Wierzycka’s tweet accuses Musk of pumping the price of BTC so that he could sell only a fraction and still get some reasonable amount from it.
But Musk denied it saying it was wrong to think about that. Today, he tweeted that only one-tenth of BTC was sold from Tesla’s account.
Last two months, Musk agreed that Tesla sold some BTC, just a little to prove its monetary value. Last month, Musk said that Tesla acquired an extra $1.5 billion in BTC. It was around the same period that Musk announced Tesla’s plans to start accepting BTC as a mode of payment.
But while the news was still spreading, Musk made a dramatic change in his decision citing BTC mining as unsafe for the environment and the people.
Musk now appears to be in support of those who have been clamoring for clean energy to mine BTC. China is one country that has been talking about doing away with BTC. Bad stories from different quarters concerning BTC actually made it lose so much in a short while.
Today, Musk has assured everyone that he has no personal dislike for BTC but only wants things to be done rightly.
“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.”
Musk’s initial decision not to accept crypto could have been influenced by the outcome of the meeting staged by MicroStrategy. At the meeting, the Bitcoin Mining Council enjoined all to seek Bitcoin mining solutions with clean energy.
Although there is so much talk about BTC mining and green energy, it is worthy to note that several miners have seen the importance and have already started complying.
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