As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week’s top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly.
TESLA ‘LIKELY’ TO RESTART BITCOIN PAYMENTS: Tesla (TSLA) CEO Elon Musk said the car maker will most likely restart accepting bitcoin as payments once the company performs due diligence on the amount of renewable energy used to mine the cryptocurrency, Reuters’ Noor Zainab Hussain and Nivedita Balu reported Wednesday. “I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50%, and that there is a trend towards increasing that number, and if so Tesla would resume accepting bitcoin” Musk said at the B Word conference. “Most likely the answer is that Tesla would resume accepting bitcoin.”
Additionally on Wednesday, Musk said that he and rocket company SpaceX own bitcoin, telling a panel that “I might pump, but I don’t dump. I definitely do not believe in getting the price high and selling or anything like that,” The Wall Street Journal’s Rebecca Elliott reported. Musk didn’t specify the size of his personal bitcoin holding or that of SpaceX, but Musk said he wasn’t selling bitcoin, nor was SpaceX.
To see the rest of the story :
Click Here.