I seems Musk plays with Bitcoin (and probably he likes to do it). The world’s largest cryptocurrency jumped as much as 10.2% to $38,903.23 after the latest tweet from Elon Musk. The billionaire said Sunday that Tesla will resume bitcoin transactions once the electric vehicle maker confirms there is “reasonable” clean energy usage by miners. Teslas halted car purchases with bitcoin in mid-May, citing concerns over the climate impact of cryptocurrency mining. Bitcoin mining consumes more energy than entire countries such as Finland and Belgium, according to the Cambridge Bitcoin Electricity Consumption Index. At that time Musk influenced Bitcoin. More, the environmental impact of bitcoin mining has come under intense scrutiny.
Even some politic liders made decisions. Chinese Vice Premier Liu He said it is necessary to “crack down on Bitcoin mining and trading behavior” to prevent the “transmission of individual risks to the social field.” On other part, ran’s government in announced in May a ban on the mining of bitcoin and other cryptocurrencies until Sept. 22, after officials said blackouts in the country’s capital of Tehran and several other large cities were in part due to the energy-intensive activity. Musk’s participation in the Bitcoin mining movement was met with criticism by the cryptocurrency community. “The tweet added to positive momentum as Elon’s stance seems to be moderating and providing a target that’s not far away,” said Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX. Tesla’s market cap tops the 9 largest automakers combined. Many shareholders and fans of Elon Musk believe there’s even more upside for the electric vehicle maker heading into 2021.