Tesla Will Accept BTC Payments Again
Elon Musk, CEO of electric car maker Tesla, tweeted yesterday that the company will start accepting BTC again as a means of payment when 50% of the miners go green. In particular, Musk said:
The announcement comes after the company halted Bitcoin payments due to the environmental concerns about mining. As we know, Bitcoin mining requires a lot of energy since the crypto’s network is based on the proof-of-work consensus algorithm, in which miners must use very powerful GPUs or dedicated mining devices to solve complex mathematical problems, which results in a high energy consumption.
The fact that Tesla will resume BTC payments in the future might be behind the recent rebound in the price of the crypto, which is approaching $40,000 today.
In addition, Musk has also said Tesla sold in Q1 10% of its investment in the crypto, but nothing else.