Tesla CEO Elon Musk again tweeted the price of bitcoin.
A businessman’s announcement about the possibility of returning bitcoin transactions when buying Tesla cars raised the value of the cryptocurrency by 12.5% to over $ 39,400 on Sunday.
Compared to previous stock market closures, bitcoin has added about $ 4,000 to its value.
Musk’s message itself concerned the energy used to make cryptocurrency transactions.
“When there is confirmation of prudent (~ 50%) use of clean energy by crypto miners with a positive future trend, Tesla will resume allowing bitcoin transactions,” Musk’s tweet read Sunday afternoon.
The businessman’s problem with the energy used in transactions comes from the fact that it is really a lot. Bitcoin uses blockchain technology with two-way encryption, performed by the so-called. “diggers” / “miners”, for the execution of transactions. That is why the process itself requires very powerful computers, and hence a lot of electricity.
At the same time, an even larger number of diggers are in China, where fossil fuel-fired electricity is widely used. This, in turn, threatens climate goals and significantly increases carbon emissions.
That’s why Musk wrote in mid-May that Tesla was suspending official Bitcoin payments for the time being because it was the “dirtiest” digital currency. Subsequently, it became clear that the company has got rid of part of its reserve in cryptocurrency.
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This information launched the “sinking” of the price of bitcoin, which peaked in April to 64,899 dollars for bitcoin. The collapse, fueled by the Chinese government’s actions against cryptocurrencies, caused a huge loss of trillions of dollars in all cryptocurrencies.
Experts are currently worried about the price of bitcoin, after Elon Musk did not mention exactly how he intends to monitor the consumption of clean energy by diggers.
Musk’s publication came in response to a report on Cointelegraph citing the position of Magda Virziska, chief executive of South Africa’s Sygnia holding, that Musk’s tweets about bitcoins from May should have prompted an investigation by the US Securities and Exchange Commission. and exchanges.
The businessman disputed these allegations, explaining that Tesla had sold approximately 10% of its bitcoin assets to confirm that the cryptocurrency could be liquidated easily without the market moving.
Tesla sold $ 272 million worth of “digital assets” in the first quarter, helping it reduce operating losses by $ 101 million, according to the company’s revenue statement.
According to experts, Musk’s current tweets are causing positive momentum for cryptocurrencies, as his position provides an achievable goal for change.
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