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Will Tesla accept BTC payments as Bitcoin’s clean energy usage surpasses 50%?

Elon Musk’s statement in 2021 regarding Tesla acceptance of Bitcoin payments hinged on miners utilizing approximately 50% clean energy sources,

accompanied by a positive future trend.

Recent developments suggest that this benchmark may have been achieved.

As shared in a September 14 thread on X (formerly Twitter),

Bloomberg analyst Jamie Coutts highlighted that over 50% of Bitcoin mining energy now originates from renewable sources.

Coutts attributed this shift to miners relocating from China after the country’s mining ban in 2021,

as well as certain nations capitalizing on mining to monetize stranded and excess energy.

Additionally, Coutts noted a decline in emissions alongside a significant increase in the hash rate,

further underscoring the positive progress in renewable energy adoption within the Bitcoin mining sector.

In addition to countries like El Salvador, which recognized Bitcoin as legal tender in 2021,

other nations such as Bhutan, Oman, and the United Arab Emirates are actively investing in BTC mining.

The recent achievement of the 50% clean energy benchmark in Bitcoin mining holds the potential for significant adoption by one of the world’s largest companies.

This development could pave the way for enhanced acceptance and utilization of Bitcoin by major global players.

No Public Announcement from Musk on Tesla’s BTC Payment Policy as Bitcoin Price Rises

Despite Musk’s previous announcement in May 2021, stating that Tesla would no longer accept BTC payments due to concerns about the environmental impact of Bitcoin mining, there has been no public declaration from him regarding a resumption of Bitcoin payments.

Musk had set a threshold of 50% sustainable energy usage for the company to reconsider its policy.

While acknowledging the positive trend towards greener energy sources in the Bitcoin mining industry, no update has been provided regarding Tesla’s stance on BTC payments.

As of the time of publication, the price of Bitcoin stands at $26,572, representing a more than 2% increase over the past seven days.

The cryptocurrency market continues to evolve, and any potential decision by Tesla to resume accepting Bitcoin payments could have notable implications on the market.

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