Elon Musk Changes Tune Again: "Tesla Will Allow Bitcoin Payments" (Comprehensive)
Mention of Payment Approval if Eco-Friendly Mining Exceeds 50%
Bitcoin Surges 10%
![[Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2021051806123139470_1621285952.jpg)
[Asia Economy New York=Correspondent Baek Jong-min] Elon Musk, CEO of Tesla, once again changed his stance and mentioned that Tesla can accept vehicle purchase payments in Bitcoin. Boosted by Musk's remarks, Bitcoin surged by as much as 10%.
On the 13th (local time), Musk tweeted, "If positive future trends continue and miners are confirmed to use reasonable (up to 50%) clean energy, Tesla will resume allowing Bitcoin transactions."
Musk's comment was a public rebuttal to a tweet from a Bitcoin media outlet that claimed his statements were manipulating Bitcoin prices. The article introduced the claim by Magda Wierzycka, CEO of financial services company Sygnia, urging the U.S. Securities and Exchange Commission (SEC) to investigate Musk for Bitcoin price manipulation allegations.
Musk also mentioned that he "only sold about 10% of Bitcoin holdings to prove that Bitcoin can be easily sold without moving the market," which is interpreted as an attempt to clarify criticism of Bitcoin price manipulation. CEO Wierzycka criticized Musk for inducing Bitcoin price increases and selling at the peak to make a profit.
Earlier this year, Musk led the rise in Bitcoin prices by announcing a $1.5 billion Bitcoin purchase and vehicle payments using Bitcoin. However, he later shifted support to another cryptocurrency, Dogecoin.
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He has faced criticism for leading Bitcoin's decline, especially by citing Bitcoin's energy efficiency issues and announcing the suspension of vehicle payments. Tesla's sale of some of its Bitcoin holdings also drew investors' ire.
![[Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2021061410411178367_1623634871.jpg)
Following Musk's remarks, Bitcoin prices soared. According to CoinMarketCap at 8:30 PM Eastern Time, Bitcoin was trading at $39,000, up 9.9% compared to 24 hours earlier.
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