“When there is confirmation of a reasonable use (of 50%) of forms of clean energy by miners with a positive future trend, Tesla will return to allow transactions in Bitcoin”. With yet another tweet, Tesla’s self-appointed “technoking” Elon Musk has caused a readjustment on the bitcoin market. This time on the upside: + 9% to $ 39,838.
Musk’s cat and mouse game with bitcoin has been going on for months now. In February, the founder of Tesla bought bitcoins worth one and a half billion dollars (about 1.24 billion euros). In March, it introduced the ability to buy Tesla in bitcoin, causing the value of the cryptocurrency to rise significantly. By the end of the year, Tesla should have allowed all customers in the world to send payments through the Bitcoin wallet, to cover the price. total amount of the chosen vehicle.
On May 13, Musk changed his mind and sank the prices of the crypto-universe with the announcement, also via Twitter, of Tesla’s decision to no longer accept payments in Bitcoin. “Tesla has suspended the purchase of vehicles that occurs through the use of Bitcoins,” read the tweet, in which Musk motivated his choice as follows: “We are concerned about the increasing use of fossil fuels in mining and transactions ( of cryptocurrency), especially coal, which causes the worst emission of any other fuel.Cryptocurrency is a good idea in many ways and we believe it has a promising future, but this cannot come at a great cost to the environment. Tesla will not sell any Bitcoin and intends to use it as there is a transition of mining to a more sustainable form of energy. We are also looking at other cryptocurrencies that use less than 1% of the energy of Bitcoin ». The result was a collapse of the cryptocurrency by 16%, which fell from 51,000 to a minimum of 46,045 euros. To then recover and stabilize on an 8% decline.
Tesla CEO Elon Musk has therefore revised his position again today with yet another tweet. Musk would not be involved by the Bitcoin Mining Council, the working group created to develop ideas and projects that make cryptocurrency mining greener (in the very first joke it was thought of an involvement of the magante who had told of having taken part in the first meetings of the group). Musk’s “push and pull” with bitcoin has attracted the attention of the SEC, the authority of the financial markets, which is said to be about to accelerate the regulation of cryptocurrencies. In reality, this is not an easy operation, so much so that the SEC asks for strict legislation.