Bitcoin

Dogecoin

Elon Musk

<div class="cryptonews"> 
 <p class="is-style-lead">According to Bloomberg Intelligence analyst Jamie Coutts, Bitcoin has now passed the renewable <a rel="noopener noreferrer nofollow" title="energy" href="https://thebittimes.com/tag/energy.html">energy</a> <a rel="noopener noreferrer nofollow" title="milestone" href="https://thebittimes.com/tag/milestone.html">milestone</a>.</p> 
 <p>This suggests that Tesla could <a rel="noopener noreferrer nofollow" title="resume" href="https://thebittimes.com/tag/resume.html">resume</a> accepting Bitcoin as <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>, 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> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <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) June 13, 2021 
   </blockquote> 
  </div> 
 </figure> 
 <p>Despite ongoing support, it was in June 2021 that Musk halted Tesla’s Bitcoin <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s until clean <a rel="noopener noreferrer nofollow" title="energy" href="https://thebittimes.com/tag/energy.html">energy</a> usage by miners was around 50%.</p> 
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
  <div class="wp-block-embed__wrapper"> 
   <div class="rll-youtube-player" data-src="https://www.youtube.com/embed/-FoOUGUsMlA" data-id="-FoOUGUsMlA" data-query="feature=oembed"></div> 
   <noscript> <iframe title="Tesla plans to accept bitcoin as a form of payment: SEC filing" width="1020" height="574" src="https://www.youtube.com/embed/-FoOUGUsMlA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
   </noscript> 
  </div> 
 </figure> 
 <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> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <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 pic.twitter.com/HQtge8gpyN</p>— Jamie Coutts CMT (@Jamie1Coutts) September 14, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Fake Elon Musk crypto giveaway scams flood TikTok 
 </div> 
 <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 Forbes report 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 Dogecoin symbol to his X profile, a spike, even temporary in the market may bring in some good news for the market.&nbsp;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Elon Musk’s upcoming biography to illuminate his Dogecoin ties 
 </div> 
 <p></p> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/renewable-energy-milestone-opens-door-for-tesla-to-resume-crypto-payments-tbt63451.html">https://thebittimes.com/renewable-energy-milestone-opens-door-for-tesla-to-resume-crypto-payments-tbt63451.html</a></p>

Renewable energy milestone opens door for Tesla to resume crypto payments

Table of Contents

TheBitTimes

Other articles published on Sep 20, 2023

Interview with Qiu Dageng: The advocate of "Three Arrows, Three Circles" explains Hong Kong's lat...

Bitcoin Ordinals Creator Proposes to Change the Current Numbering System

Whales Shorting Ethereum? Do They Know Something We Don’t?

Grayscale Submits Second Ethereum Futures ETF Application

Nike Stock (NYSE: NKE) Price Loses Momentum, Slips Below $100

Bitcoin Price Analysis: Bears Questioning Whether 26917 Holds – 21 September 2023

Join our free newsletter for daily crypto updates!