Without any grand notice, Tesla is no longer accepting or selling bitcoin. The chief evangelist of the company, Elon Musk, cited the “rapidly increasing use of fossil fuels” for mining and transactions, and the cryptocurrency plunged. Now, Elon has just seeded another business for his empire: mining Bitcoin with renewable energy. Watch out, in the next coming months, SolarCity, his partly renewable energy business, will have things for that market need.
Tesla has stopped accepting bitcoin as payment for its cars out of concern that it will contribute to greater consumption of fossil fuels, according to a statement CEO Elon Musk tweeted Wednesday. Tesla had only just started accepting bitcoin in late March.
Musk also said that Tesla will no longer sell any more of the $1.5 billion stash of bitcoin it purchased earlier this year. Tesla sold some of that bitcoin in the first quarter of 2021, which wound up helping pad the company’s quarterly profit figures.
Why not? If holding Bitcoin is going to be tobacco-lized – yes, extremely dangerous and immoral because of fossil-based mining – the only solution would be buying SolarCity CoinMiner [I made that up]. And that is another perception demand opportunity for his generation’s finest innovator. Tesla will resume buying the coin if the mining process becomes cleaner.
My point is this; the message from Musk is evident: from JP Morgan to Fidelity, Goldman Sachs to any firm, you cannot claim you love and want to help the climate if you run trading desks on Bitcoin, when you know that it is breaking the planet due to dangerous mining. This call from Tesla will shape how environmentalists will go after corporations holding and buying Bitcoin.
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Expect “Bitcoin Destroys the Planet” banners. BTC will have a fight to get out of this “green attack” from its best crusader.
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The mafias running the world aren’t letting up, they decide what is moral and immoral, ethical and unethical; and your duty is to obey!
Create your own future, the people or states you see as reference points are there for their own special interests, you are never part of the deal.
Game on…
Very interesting. Firstly, with this expect a dip in the value of BTC, as many who reverence the Tech-Mogul, would be looking for alternate coin to trade on. However, if you say you’re going to coin that use lesser energy consumption, what would you do when that coin ranks high?
This obviously makes it’s evident that he want to raise the valuation of SolarCity, because, when people become distasteful of the source of energy from which the coin is mined, they would pivot to his company.
That said, I sent a private mail to you on Ambri- A budding battery technology, which I stumbled on yesterday whilst in study, I think you may need to have your eyes on it- that if those big eyes are not on it.
Good Day.