The price of bitcoin surged after Tesla CEO Elon Musk announced the company would start accepting the cryptocurrency again once at least half of it can be mined using clean energy. ClareCNN reports.
The price of bitcoin is surging after Tesla CEO Elon Musk tweeted Sunday that the electric car company would start accepting the cryptocurrency again once at least half of it can be mined using clean energy."When there's confirmation of reasonable clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," Musk tweeted Sunday afternoon.
But by May, Musk said his company was suspending plans to accept the cryptocurrency as payment. He cited bitcoin's high environmental cost as reason for the move, after months of being bullish on it.Bitcoin has been incredibly volatile since the beginning of the year. It started January at around $29,400, according to Coinbase, and went as high $64,899 in April. Tweets from Musk seem to have contributed to its volatility.
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