Elon Musk is sending Bitcoin’s price on another volatile ride after tweeting that Tesla would start accepting the cryptocurrency again once.
June 14, 2021 | AtoZ Markets – Tesla will resume selling electric cars for Bitcoin when it confirms that at least half of the miners have switched to renewable energy, Elon Musk said. Over the course of the day, the price of flagship cryptocurrency has increased by 12%, according to CoinMarketCap.
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.— Elon Musk (@elonmusk) June 13, 2021
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
The message was a response to criticism from the head of the financial company Sygnia Magda Wierzycki. In the podcast The Money Show, she said the Tesla founder is manipulating the price of the first cryptocurrency.
“What we are seeing with Bitcoin is price manipulation by one very powerful and influential person,” Vezhicki added.
Sygnia’s CEO stressed that if Musk’s tweets were about any public company, he would be targeted by the US Securities and Exchange Commission.
In her opinion, the billionaire deliberately raised the price of digital gold and liquidated most of his position at the highs. Vezhicki considers his public statements, as well as the message about Tesla’s refusal to accept cryptocurrency, to be manipulations.
Musk called the words of the head of Sygnia inaccurate. He recalled that the electric car manufacturer sold only 10% of its bitcoins to test the liquidity of the market.
“Once it has been confirmed that miners have a reasonable (50%) clean energy use with a positive trend in the future, Tesla will resume Bitcoin operations,” Musk added.
At the time of writing, the premier cryptocurrency is trading at $39,200.
In February 2021, Tesla invested $1.5 billion in the first cryptocurrency, and in March Musk announced the start of sales of electric cars for Bitcoin in the United States.
In April, the company liquidated a portion of its $272 million digital gold position .
As AtoZ Markets reported in May, Tesla suspended plans to accept Bitcoin as payment and crashed the market.
As a reminder, the famous hacker group Anonymous has issued a warning to Elon Musk in a new video. According to the group, this is a manipulation of the market by taking advantage of its popularity.
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