Elon Musk, the CEO of Tesla, announced on Twitter that the company will restart accepting bitcoin transactions after miners that verify transactions utilize more environment friendly electricity..
“Tesla will resume permitting Bitcoin transactions when there is verification of fair (50 percent) clean energy utilization by miners with a favourable following trend,” he wrote in a tweet.
Following Musk’s post, bitcoin surged 5.1 percent to dollar 37,360.63 at 1810 GMT on sunday (2:10 p.m. ET), gaining dollar 1,817.87 to its earlier closing.
Elon Musk also revealed that Tesla sold roughly 10% of its bitcoin assets to ensure that the cryptocurrency could be unloaded quickly and without causing a market reaction.
