Business

Bitcoin on the rise after Tesla announces that they accepts it again

By Hiya Chaudhary

Tesla CEO Elon Musk has been fending off attacks for his tweets regarding Bitcoin and his influence over the markets that deal with the cryptocurrency. The fluctuation with Bitcoin started when Musk said in a statement that Tesla will stop trading associated with Bitcoin due to the adverse environmental impact of its ‘mining’, the future of this decision depended on the sustainability of the said ‘mining’ process.

Yesterday, Elon Musk tweeted that When there’s confirmation of reasonable (~50%) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions.” The statement implies that Tesla is ready to accept Bitcoin. After which Bitcoin climbed above $39000 and is still on the rise.

Tags: Bitcoin elonmusk Tesla Twitter

Hiya Chaudhary

Hiya Chaudhary is an Economics major at Miranda House. A political fanatic who has a lot to say about anything and everything. She is an eager learner and enthusiastic about everything life has to offer. Hiya is currently working at USAnewshour.com and can be reached at shweta.hiya01@gmail.com