- Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners.
- “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk wrote in a tweet.
- The electric-car maker halted car purchases with bitcoin in mid-May due to concerns over how mining contributes to climate change.
Government needed Musk to retract his statement (or lose his government/taxpayer subsidies) as BTC is operating as a huge sink to absorb the velocity of fiat being pumped into the system.
The SAME energy used to power “his” cars is the SAME power used to mine crypto.