On Sunday, Elon Musk said that Tesla will resume bitcoin BTC transactions after confirmation that Bitcoin miners are using a reasonable amount of clean energy.
Musk was responding to comments that were made by Magda Wierzycka during an interview with Bruce Whitfield. During the interview, Wierzycka, who is one of the wealthiest women in South Africa, said that Elon Musk’s tweets about Bitcoin amounted to price manipulation and the US Securities and Exchange Commission should have started investigations.
Elon Musk also went ahead to state that Tesla had sold about 10% of its digital holdings within the first quarter which confirms that the BTC could be easily liquidated without moving the market.
On February 2021, Tesla disclosed it had purchased $1.5 billion worth of BTC in a SEC filling and also announced that it would be accepting bitcoin as payment for its Tesla products. But in Mid-May, Tesla halted accepting BTC as a method of payment sighting the effects of BTC mining on climate change though Bitcoin was at a freefall at the time.