Bitcoin's Clean Energy Usage Surges Past 50% Mark: Will Tesla Now Accept BTC Payments?
Portfolio Pulse from Benzinga Neuro
Bitcoin's renewable energy usage for mining has reportedly crossed the 50% mark, meeting the criteria set by Tesla for reconsidering Bitcoin payments. This change is primarily due to the dispersion of miners following China’s mining ban last year and the active pursuit of renewable energy sources by several countries. Despite this, Tesla's CEO Elon Musk has not yet confirmed any updates to Tesla’s Bitcoin payment policy.
September 15, 2023 | 8:10 am
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NEUTRAL IMPACT
Bitcoin's renewable energy usage for mining has reportedly crossed the 50% mark, potentially leading to its acceptance as a payment method by Tesla. However, there's no confirmation from Tesla yet.
The news directly pertains to Bitcoin as it meets the criteria set by Tesla for reconsidering Bitcoin payments. However, since there's no confirmation from Tesla, the immediate impact on Bitcoin's price is neutral. The long-term impact could be positive if Tesla decides to accept Bitcoin payments again, potentially increasing demand for the cryptocurrency.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Tesla may reconsider accepting Bitcoin payments as the cryptocurrency's renewable energy usage for mining has crossed the 50% mark. However, CEO Elon Musk has not confirmed any changes to the company's payment policy.
The news directly pertains to Tesla's potential policy change regarding Bitcoin payments. However, since there's no confirmation from the company or its CEO, the immediate impact on the stock is neutral. The long-term impact could be positive if Tesla decides to accept Bitcoin payments again, potentially attracting more customers.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100