After Suspended, Elon Musk Receives Bitcoin Again For Tesla Purchase

Tesla accepts Bitcoin payments (Business Insider)

JAKARTA - Tesla boss Elon Musk announced that his party would again accept purchases of electric cars using Bitcoin (BTC). Previously, Musk had suspended Tesla transactions with BTC.

Elon Musk also explained that the decision was made after information on the use of clean energy used in Bitcoin mining activities.

"When there is confirmation of the reasonable use of clean energy (50 percent) by miners with a positive future trend, Tesla will again allow bitcoin transactions," Musk said as quoted by CNBC International.

Previously, Tesla had sold Bitcoin holdings for 10 percent. This is intended to see liquidation and reduce Tesla's operating losses.

On the other hand, Magda Wierzycka as CEO of Sygnia from South Africa accused Musk of "market manipulation". He argued that the Tesla boss should have been investigated by the US Securities and Exchange Commission (SEC).

However, Wierzycka's accusations were denied by Musk himself where his party had confirmed the liquidation of BTC easily without switching markets long before the Cygnia CEO made accusations against the Tesla boss.

In the first quarter of 2021, Tesla has sold its Bitcoin worth 272 million US dollars (Rp 3.8 trillion). This action was able to reduce Tesla's losses of 101 billion US dollars (equivalent to Rp. 1.4 trillion).

In May last year, Tesla decided to suspend the purchase of electric cars with Bitcoin due to energy consumption concerns from mining that is not environmentally friendly.

“We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, particularly coal, which has the worst emissions of any fuel,” Musk said in May 2021.

As is well known, Elon Musk's tweets on Twitter often affect the ups and downs of the price of his favorite cryptocurrency.