Elon Musk has faced criticism recently over tweets that send Bitcoin crashing, but he can push the price upwards, too. On Sunday, the CEO said that Tesla would resume accepting the crypto once there is confirmation of reasonable clean energy use by miners.
Tesla invested $1.5 billion in Bitcoin earlier this year and announced it would accept the digital currency as payment for its products, pushing the price to $44,000. In April, BTC reached a record high of almost $65,000.
Tesla’s love affair with BTC turned sour last month when Musk reversed the decision to accept the coin as payment for Teslas, citing the environmental impact of mining. That sent Bitcoin’s price falling, as did the billionaire’s suggestion that Tesla had sold or could sell its holdings. Musk later confirmed his company still holds most of its Bitcoin investment, but the damage had been done.