Crypto Scoop: Tesla to Resume Acceptance of Bitcoin on set Conditions

It is the end of an equally thrilling week in the crypto space. Here are the highlights of this week's episode of Crypto Scoop:

• Tesla to resume acceptance of Bitcoin as payment on set conditions
• World Bank denies El Salvador help with Bitcoin
• Tanzania president urges Central Bank to prepare for crypto adoption

Tesla to resume acceptance of Bitcoin as payment on set conditions

Elon Musk took to his Twitter account to announce that Tesla would resume acceptance of bitcoin as payment once the bitcoin miners can go 50% green. Earlier, this year Musk had announced that Tesla was putting a halt to accepting bitcoin as payment because of environmental concerns. He had noted that the emissions and energy consumption of bitcoin mining had raised environmental concerns.

Since then, a Bitcoin council had been created to address these concerns and better inform the community on the bitcoin mining process. Elon Musk's tweets and concerns about bitcoin may have initiated several sell-offs, resulting in a dip in bitcoin price. Yet, bitcoin had maintained a recovery rally staying above a $30k benchmark. However, Elon Musk's recent tweet where he noted that "when there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions," had bitcoin leaping above $40,000. Other cryptocurrencies weren't left behind as they followed suit.

This isn't all. Elon's Musk also defended the sale of 10% of Tesla's bitcoin holdings. He noted, "Tesla only sold 10% of holding to confirm BTC could be liquidated easily without moving the market."

World Bank denies El Salvador help with bitcoin

El Salvador recently passed a bill that adopts bitcoin as a legal tender. Following the decision to adopt bitcoin as a legal tender, the Finance minister of El Salvador, Alejandro Zelaya, noted that the country had sought the help of the World Bank to implement the adoption.

Yet, it seems The World Bank has refused the request to help with the implementation of bitcoin as a legal tender. A report on the Word bank noted that it was committed to assisting Salvador with its financial needs. Yet, concerning the implementation of bitcoin adoption stressed that "this is not something the World Bank can support given the environmental and transparency shortcomings." This might pose a challenge to the Salvadorian government, which plans to officially make bitcoin its currency in just less than three months.

Tanzania president urges Central Bank to prepare for crypto adoption

President of Tanzania, Samia Suluhu Hassan, in her address to the country's citizens, encouraged the central bank to prepare for the global adoption of cryptocurrencies.  She noted that although the nation hadn't entirely accepted or began to use these routes, she called the central bank to start working on that development.

She stressed that the Bank of Tanzania should "be ready for changes and not caught unprepared." The decision of the El Salvador Government and Tanzania's president speech has been taken in good faith by the crypto community, who are thrilled that the world is finally coming to enlightenment and acceptance of the potentials within cryptocurrencies.

Read also: How Crypto Can Enable Trade In Africa

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