Elon Musk announces the resumption of Bitcoin payments
Tesla CEO Elon Musk
tweeted that the electronics maker will resume bitcoin payments when the use of bitcoin's cryptocurrency clean energy reaches 50 percent.
"Once the reasonable use (50%) of clean energy is confirmed by miners with a positive future trend, Tesla will stop trading bitcoins."
In addition, he denied the Bitcoin pump and dump mask, calling the allegations recently made by Sygnia CEO Magda Wierzycka "false."
The multi-billionaire reaffirmed that Tesla sold only 10 percent of its assets in late April to test the liquidity of the cryptocurrency without changing its price.
Tesla suspended bitcoin payments on May 12 due to the unfavorable environmental effects of the mining, causing severe market improvements.
According to Ark Investments, more than 70 percent of bitcoin miners are currently powered by renewable energy, but estimates can vary widely.
Continued crackdown on China's cryptocurrency industry is expected to accelerate the transfer of bitcoin to green power.
