Elon Musks lays out when Tesla will begin accepting Bitcoin payments

Tesla CEO Elon Musk says his electric-vehicle company will start accepting Bitcoin (BTC) payments once there’s confirmation that miners are utilizing clean energy, offering a glimmer of hope that the FUD surrounding digital assets could soon subside.

Musk responded to a Cointelegraph tweet about recent accusations from Sygnia CEO Magda Wierzycka, who called on the United States Securities and Exchange Commission to investigate the billionaire for allegedly manipulating Bitcoin’s price.

According to Wierzycka, Musk knowingly pumped the price of Bitcoin only to sell a “big part of his exposure at the peak.”

“This is inaccurate,” Musk said in a Sunday response. “Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving [the] market.”

As Cointelegraph reported, Musk acknowledged in April that Tesla had sold a portion of its Bitcoin holdings to prove its liquidity as an alternative to cash. Just one month earlier, the billionaire confirmed that Tesla added $1.5 billion worth of BTC to its balance sheet and would begin accepting the virtual asset as payment for its vehicles.

However, Tesla’s embrace of Bitcoin-as-a-payment was short-lived after Musk flagged concerns over the cryptocurrency’s energy usage. On May 12, Musk tweeted that his company would no longer accept Bitcoin payments due to the network’s “increasingly rapid use of fossil fuels…”

Musk’s tweet coincided with a slew of negative headlines about Bitcoin’s energy usage, China’s intent to ban Bitcoin mining and an overextended crypto rally that was showing signs of weakness….

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