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<p class="is-style-lead">According to Bloomberg Intelligence analyst Jamie Coutts, Bitcoin has now passed the renewable energy milestone.</p> 
<p>This suggests that Tesla could resume accepting Bitcoin as payment, as cited in a 2021 tweet.</p> 
<h2 class="wp-block-heading" id="the-backstory-on-pulling-the-plug">The backstory on pulling the plug</h2> 
<p>Elon Musk, a known supporter of cryptocurrencies including Bitcoin, has been viewed by many as being responsible for some of the cryptocurrency’s wild price swings, including its peak back in 2021.</p> 
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   <p lang="en" dir="ltr">This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.<br><br>When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1404132183254523905?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 13, 2021</a> 
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<p>Despite ongoing support, it was in June 2021 that Musk halted Tesla’s Bitcoin payments until clean energy usage by miners was around 50%.</p> 
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<p>Since then, Bloomberg Intelligence’s Coutts noted that clean energy usage is now greater than 50%, adding the combination of falling emissions and a rising hash rate means “Bitcoin mining is consuming more sustainable energy in its mix.”</p> 
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   <p lang="en" dir="ltr">👉Since China's mining ban in mid-2021 when emissions peaked at 60.9 megatonnes of carbon dioxide equivalent (CO2e), emissions have declined 37.5%<br>👉suggesting the concern about Bitcoin's carbon footprint are being overstated <a href="https://t.co/HQtge8gpyN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/HQtge8gpyN</a></p>— Jamie Coutts CMT (@Jamie1Coutts) <a href="https://twitter.com/Jamie1Coutts/status/1702232776504930760?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 14, 2023</a> 
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<p> You might also like: <a href="http://https://crypto.news/fake-elon-musk-crypto-giveaway-scams-flood-tiktok/" rel="noopener noreferrer nofollow"> Fake Elon Musk crypto giveaway scams flood TikTok </a> </p> 
<h2 class="wp-block-heading" id="in-time-for-paypal-2-0">In time for PayPal 2.0</h2> 
<p>Although Musk has remained quiet on X (formerly Twitter) on this topic, the timing of this announcement was highlighted in a recent <a href="https://www.forbes.com/sites/digital-assets/2023/09/20/surprise-flip-primes-bitcoin-for-a-tesla-and-elon-musk-bombshell-that-could-cause-crypto-price-chaos/?sh=424110217a03" target="_blank" rel="noopener noreferrer nofollow">Forbes report</a> as being particularly interesting since it occurred at the same times a U.S. Securities and Exchange Commission insider warned crypto buyers of Binance, and a leak also suggested the Tesla CEO was thinking of turning X into a new version of PayPal that could incorporate cryptocurrency payments.</p> 
<p>Given Elon Musk’s massive sway in the crypto community, especially as evidenced in his addition of the <a href="https://crypto.news/elon-musk-adds-dogecoin-symbol-to-his-bio-on-twitter/" rel="noopener noreferrer nofollow">Dogecoin symbol to his X profile</a>, a spike, even temporary in the market may bring in some good news for the market.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/elon-musks-upcoming-biography-to-illuminate-his-dogecoin-ties/" rel="noopener noreferrer nofollow"> Elon Musk’s upcoming biography to illuminate his Dogecoin ties </a> </p>

Renewable energy milestone opens door for Tesla to resume crypto payments

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