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MicroStrategy CEO charges Elon Musk for promise involving Tesla and Bitcoin
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As another year comes to an end, many reflect on unfulfilled promises. However, Michael Saylor, CEO of MicroStrategy, dared to publicly call out Elon Musk for his 2021 statement.
At the time, the Tesla owner promised to accept Bitcoin as soon as 50% of its mining came from clean sources. After a tweet with data showing thatand 56% of Bitcoin mining is already sustainablethe charge went viral, bringing to light the promise made by Musk and demanding a position from Tesla’s CEO.
On March 24, 2021, amid the first major rise in cryptocurrencies, Elon Musk published a tweet stating that Tesla would accept Bitcoin. At the time, Bitcoin was falling. After reaching a peak of US$61,315 on March 13th, BTC ended the 24th worth US$52,526.
After Musk’s tweet, the value of the cryptocurrency rose again and reached US$63,576 on April 13 of that year.
Tesla backtracks on Bitcoin acceptance
However, on May 12th, Musk backtracked and shared an official announcement from Tesla stating that the company had suspended the use of Bitcoin for vehicle purchases. The reason was the consumption of non-renewable energy and pollutants caused by cryptocurrency mining, which, according to the company, have reached worrying levels.
After the announcement, Bitcoin, which was priced at US$50,000, had a sharp drop and was worth around US$37,000 on May 19th. The case caught the attention of the market and caused South African businesswoman Magda Wierzycka to accuse Elon Musk of manipulating cryptocurrency pricessuggesting that the SEC reinvestigate the businessman.
However, Elon Musk vehemently denied the accusations and promised that the Tesla would return to accepting Bitcoin when about 50% of Bitcoin mining comes from clean energy. More than 3 years later, Michael Saylor remembered his promise on the 28th.
The businessman made a post publicly charging Elon Musk. Along with the tweet, he attached an image from the respected Woo Charts, demonstrating that more than 56% of Bitcoin mining comes from sustainable energy. According to data in the chart, Bitcoin surpassed the 50% limit range proposed by Elon Musk in July 2022.
Saylor’s charge quickly went viral, causing other members of the Bitcoin community to publicly charge the CEO of Tesla. So far, he has not commented.
MicroStrategy CEO charges Elon Musk for promise involving Tesla and Bitcoin
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MicroStrategy CEO charges Elon Musk for promise involving Tesla and Bitcoin
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MicroStrategy CEO charges Elon Musk for promise involving Tesla and Bitcoin
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MicroStrategy CEO charges Elon Musk for promise involving Tesla and Bitcoin
