Elon Musk on Bitcoin: 'Tesla will accept Bitcoin when miners use clean energy'

Tesla Inc CEO Elon Musk on Sunday announced that the company will resume allowing Bitcoin transactions. Elon Musk was replying to an article that criticised and blamed him for alleged price manipulation. Musk has therefore stated that the electric carmaker will allow Bitcoin transactions when miners who verify transactions use more renewable energy. In addition, he also informed that Tesla sold 10 per cent of its holdings to confirm that Bitcoin could be liquidated easily without moving the market.

Elon Musk on Bitcoin

Bitcoin rose to 5.1 per cent to $37,360.63 on Sunday, adding $1,817.87 to its previous close, after Musk's tweet. Earlier in May, Elon Musk had announced that Tesla would not accept Bitcoin anymore for car purchases. He had cited environmental concerns as a reason for the company's stand on cryptocurrency. Following his statement, Bitcoin had slumped by over 10 per cent. Even though Musk had opined that cryptocurrency had a promising future, he had also remarked that it cannot come at the cost of the environment. 

Anonymous issues warning to Elon Musk; Musk responds 

The Tesla and SpaceX CEO received threats from hacker group Anonymous for his tweets on cryptocurrency. Anonymous had stated that his tweets on cryptocurrency show "complete disregard for an average working person". In their new video, the hacker group also blamed Musk for mocking hardworking people with his memes from his multi-dollar mansion. The hacker group had also elaborated on Musk’s alleged wrongdoings and claimed that the former has emerged as a match for Elon Musk as the 'smartest person'.

"It appears that your quest to save the world is more rooted in a superiority & saviour complex than it is in actual concern for humanity," Anonymous told Elon Musk in the video message. 

However, Musk did not pay heed to Anonymous and instead shared a meme and stated that it was 'not even a good fake anonymous'.