Bitcoin Surges After Elon Musk Says Tesla Will Use When Mining Cleaner
Elon Musk wrote in a tweet on last Sunday that Tesla would allow transactions in Bitcoin once the mining is done with 50% clean energy.
According to the Cambridge Center for Alternative Finance, it is estimated that 39% of Bitcoin mining is powered by renewable energy, mainly hydroelectric.
Musk’s tweet shows that he still sees a future for more Bitcoin adoption after he criticized the cryptocurrency for being an energy hog and relying too much on fossil fuels.
Right after Musk’s tweet about Bitcoin, the coin jumped by 9% on Sunday and traded at $39,580, about a two-week high as of 8 a.m. in London on Monday.
The head of OTC and institutional sales at crypto derivatives exchange FTX, Jonathan Cheesman says:
“Elon Musk’s stance seems to be moderating and providing a target that’s not far away. The rally was already underway as the market speculates about an imminent purchase from MicroStrategy and the G-7 comments on crypto were neutral, even optimistic, about digital innovation.”
Source from: https://themalaysianreserve.com/2021/06/14/bitcoin-jumps-after-musk-says-tesla-will-use-when-mining-cleaner/
