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Elon Musk once said Tesla When miners use more renewable energy, Bitcoin transactions will resume.
“Tesla will resume allowing Bitcoin transactions when it is confirmed that miners with positive future trends are reasonably (about 50%) using clean energy,” the company’s CEO Musk said in a tweet on Sunday.
On Sunday at 1810 GMT (2:10 pm Eastern Time), Bitcoin rose 5.1% to $37,360.63, and after Musk’s tweet, it was $1,817.87 higher than the previous closing price.
Musk also said that Tesla sold about 10% of its shares to confirm that Bitcoin can be easily liquidated without moving the market.
He announced in May that Tesla would no longer accept Bitcoin to buy cars, on the grounds that the company’s position on cryptocurrencies was quickly reversed due to long-term environmental issues. In February of this year, Tesla revealed that it had purchased $1.5 billion in Bitcoin and would accept it as a payment method for cars.But the production of cryptocurrency is inconsistent with the company’s production mission Towards a “zero emission future”.
After Musk’s May tweet, Bitcoin fell by more than 10%.
The billionaire said that he believes that cryptocurrency has a bright future, but it cannot cause huge damage to the environment.
According to statistics, the energy used to produce Bitcoin alone is equivalent to Argentina’s annual carbon footprint Cambridge Bitcoin Power Consumption Index, A tool from researchers at the University of Cambridge to measure the energy usage of currency.
Bitcoin mining-the process of rewarding Bitcoins to computers that solve a series of complex algorithms-is a very energy intensive process. Because the number of bitcoins that can be mined is limited-21 million-computers must solve increasingly difficult algorithms to obtain bitcoins. Special equipment and powerful processing power consume a lot of electricity-as much as some countries.
Reuters contributed to this report
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