“When there’s confirmation of reasonable (~50 per cent) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions,” he tweeted in response to an article published by Coin Telegraph.
The story was about Magda Wierzycka, chief executive of a South Africa financial services company called Sygnia, accusing Musk of manipulating bitcoin markets.
However, Musk fired back, saying it was purely his worries over clean energy that had led to his “pump and dump” approach towards the coins.
“This is inaccurate,” he wrote in response.
“Tesla only sold ~10 per cent of holdings to confirm BTC could be liquidated easily without moving market.”
The Basel Committee on Banking Supervision, which sets the rules for banks in 10 different countries including the US, Canada and nations in Europe, said that bitcoin posed a considerable risk to the banking sector.
The committee proposed a reform where banks had to set aside capital as a financial safety net in case a crypto crash brought them down.
Bitcoin plummeted to its lowest point for this year on January 4, hitting rock bottom at $A36,000.