On Tuesday (December 31), the Bitcoin price fluctuated sharply by over $2,300, soaring to a high of $95,024 before retreating to around $92,600. The clean energy usage rate for Bitcoin has now exceeded 50%, and billionaire Elon Musk previously stated that when this condition occurs, Tesla will accept Bitcoin payments again. As the inauguration of Donald Trump, the newly elected president of the United States, approaches, the Trump trade is back in focus.

The clean energy usage rate for Bitcoin exceeds 50%, and Tesla is expected to reintroduce payments.

For years, Bitcoin miners have been focused on environmental issues, and now they are making significant strides toward sustainability, with over 56% of mining energy coming from renewable sources. This progress may pave the way for Tesla to reintroduce Bitcoin as a payment method.

This achievement for Bitcoin meets the conditions set by Tesla CEO Musk, who previously stated that once renewable energy consumption exceeds 50%, the company would resume Bitcoin payments. This development has led to expectations that Tesla will restore Bitcoin as a payment method for its electric vehicles.

In recent years, Bitcoin miners have made significant progress in using cleaner energy. Regions such as Quebec, Iceland, and Texas have attracted miners due to their diverse renewable resources, including hydropower, geothermal, and wind energy. Hydropower currently leads renewable energy generation at 23%, followed by wind energy (5%) and solar energy (2%).

Bitcoin mining consumes about 127 terawatt-hours of electricity annually but still faces challenges regarding carbon emissions. Despite the increase in clean energy usage, Bitcoin mining still emits approximately 69 million metric tons of carbon dioxide each year. Although there has been positive progress in the use of clean energy, this still raises significant environmental issues.

Although nuclear energy is non-renewable, it accounts for 9% of the energy used in Bitcoin mining. Additionally, geothermal energy has also driven the use of clean energy in Bitcoin mining, such as in El Salvador. However, coal still accounts for 22% of energy usage, down from 40% in previous years.

Traders are now looking forward to Tesla reintroducing Bitcoin payments, which Musk initially suspended in May 2021 due to environmental concerns. Therefore, after Bitcoin miners reach the 50% renewable energy threshold, many believe Tesla may take action.

Musk has been identified by Trump as the leader of the newly established Department of Government Efficiency (DOGE), where he actively campaigned for Trump during the November presidential election in the U.S. Under Trump's victory, he has promised to take a friendlier stance towards Bitcoin and cryptocurrencies, paving a bright future for crypto regulation.

The potential returns of Bitcoin payments may be influenced by geopolitical and economic factors, and the relationship between Musk and Trump may play a role in shaping future Bitcoin and digital asset regulatory policies. Additionally, Trump's increasing support for Bitcoin has raised the optimism of Bitcoin supporters regarding favorable regulatory policies.

As Bitcoin miners shift towards renewable energy, some industry participants like Riot Platforms and MARA Holdings are increasing their investments in sustainable energy. Despite the increase in clean energy usage, Bitcoin mining remains an expensive investment due to the global energy crisis. Additionally, amid rising operational costs, mining companies continue to buy Bitcoin to solidify their positions.

MicroStrategy has increased its holdings by 2,138 Bitcoins, maintaining its buying strategy.

Wall Street-listed whale MicroStrategy continues to aggressively increase its Bitcoin holdings, investing an additional $209 million to acquire 2,138 Bitcoins.

According to the announcement, the average purchase price of these Bitcoins was $97,837. Moreover, these Bitcoins were purchased between December 23 and 29, 2024, bringing the company's total Bitcoin holdings to 446,400, valued at approximately $41.8 billion based on current market prices.

MicroStrategy sold 592,987 shares to fund this acquisition, with net proceeds of approximately $209 million. As of December 30, the company plans to issue $21 billion in stock, of which about $6.8 billion worth is available for sale.

The company's co-founder, Michael Saylor, stated that after reaching a Bitcoin investment goal of $42 billion, the company will reconsider its capital allocation plan.

Subsequently, MicroStrategy announced plans to hold a special meeting to vote on proposals to enhance its Bitcoin acquisition strategy, including increasing the authorized Class A common stock from 330 million shares to 10.33 billion shares and increasing the authorized preferred stock from 5 million shares to 1 billion shares, providing greater flexibility for future Bitcoin purchases.

Since the launch of the 21/21 program, MicroStrategy has acquired over 194,000 Bitcoins worth approximately $18 billion, achieving about 42% of its investment goal in less than two months.

This acquisition marks the company's eighth consecutive week of buying Bitcoin. Notably, last week, MicroStrategy purchased 5,000 Bitcoins for $561 million when Bitcoin had not yet been included in the Nasdaq 100 index.

Bitcoin Technical Analysis

Economies.com indicates that the Bitcoin price is currently showing negative trading, suggesting a return to the expected bearish correction trend, with a target of $91,000, followed by the $87,055 level as the next negative point, while noting that the EMA 50 support suggests a bearish wave.

Unless it breaks $95,195, then the $96,140 level and maintains above it, this wave will remain valid.

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