Tesla will accept bitcoins when miners use more renewable energy sources: Elon Musk

In a tweet, Elon Musk, Tesla Inc’s CEO said, the electric carmarker will accept bitcoin transactions when miners who verify transactions use more renewable energy.

“When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” said Musk in a tweet.

Following Musk’s tweet, the price of bitcoin rose by 5.1% to $37,360.63 adding $1,817.87 to its previous close.

Musk also tweeted, Tesla sold around 10% of holdings to confirm bitcoin could be liquidated easily without moving market.

Earlier this year in May, Musk announced that Tesla would no longer accept bitcoin for purchasing its cars citing concerns environmental concerns; the announcement marked a reversal in the company’s position on the cryptocurrency.

Musk opined that while cryptocurrency has a promising future, it however cannot be at a cost to the environment.

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