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Tesla will resume sales for bitcoins when the currency goes green

14 June 2021
1 min.
Tesla will resume sales for bitcoins when the currency goes green

Tesla electric cars for bitcoins

U.S. electric carmaker Tesla will once again begin accepting bitcoins as payment for its products when the receipt of this type of cryptocurrency becomes more environmentally friendly. This was announced by Tesla CEO Elon Musk on Twitter on Sunday.

The entrepreneur noted that in the future, "Tesla will again allow bitcoin transactions". As Musk explained, this will happen when there is confirmation that those generating this cryptocurrency are getting about 50% of the energy they need to do so from green sources.

The businessman also said that Tesla had previously sold about 10% of its bitcoin assets. He said this was to confirm that bitcoins could easily be sold without fluctuating the market. Musk published this message as a comment to a publication that cited allegations of his possible involvement in cryptocurrency manipulation.

Earlier this year, Tesla announced that it had invested $1.5 billion in bitcoins and was starting to accept the cryptocurrency as payment for its products. In May, Musk stated that Tesla was suspending acceptance of bitcoins due to the fact that the methods of obtaining this cryptocurrency are not environmentally friendly.

The bitcoin's value fell more than 17% to $46,200 amid Tesla's announcement.

Cryptocurrency is a type of digital currency whose creation is based on cryptographic methods. The functioning of such systems is based on blockchain technology, a decentralised database in which storage devices are not connected to a common server.

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