Elon Musk, CEO of Teslabetrayed her for the first time that your company owns SpaceX Bitcoin (BTC).
The company has not yet officially announced the amount of Bitcoin it has acquiredAlthough Musk’s other company, Tesla, bought $ 1.5 billion of the cryptocurrency earlier this year, which rocketed the price of Bitcoin.
That rally came to an abrupt end after Tesla stopped accepting Bitcoin payments for environmental reasons, however In “The – Word” – a Bitcoin (BTC) virtual event – the unpredictable tech billionaire suggested that Tesla would accept the cryptocurrency again after promising signs that the share of renewable energy used in mining was increasing.
Changing the narrative that Bitcoin is going “green” may help rekindle the ascent; Coin Metrics co-founder Nic Carter told CNBC a few hours ago that BTC basics are improving in terms of sustainability.
Musk appeared alongside Ark Invest CEO Cathie Wood and Twitter CEO Jack Dorsey and Square Crypto host Steve Lee.. Musk didn’t reveal any further details about the SpaceX purchase other than saying:
“I have Bitcoin, Tesla has Bitcoin, SpaceX has Bitcoin and, of course, I personally have some Ethereum and Dogecoin.”
Yes, he added: “We don’t sell Bitcoin, nor do I personally sell anything, SpaceX still sells Bitcoin”.
The statement confirms longstanding speculation that the space infrastructure company added Bitcoin to its reserves.. In mid-March, Anthony Scaramucci stated in a tweet WhatHe believed Musk wasn’t limited to buying Tesla.
Elon Musk didn’t stop at Tesla. I understand that SpaceX owns #bitcoin on your balance sheet. @elonmuskÂ owns more than $ 5 billion in #bitcoinThrough Tesla, SpaceX and in person. No living person has done more to protect the planet from climate change. (1/2)
to???? Anthony scaramucci (@scaramucci) March 19, 2021
During the event, Put on a BTC-themed T-shirt, Musk appeared to be relatively optimistic about the future of digital gold, claiming it owns “a lot more Bitcoin than Ether or DOGE”..
In case you’re wondering, this is the shirt he’s wearing @elonmusk. pic.twitter.com/SNd0a8LLjj
to???? The wolf of all streets (@scottmelker) July 21, 2021
Musk stated that there “appears to be a positive trend” in using renewable energy for BTC mining, citing the recent coal mine closure in China.
“I want to do more due diligence to confirm that the share of renewables is very likely to be at or above 50% and that there is a trend to increase that number. If so, Tesla will accept Bitcoin again, ”he said.
Nic Carter talks about mining on CNBC
Speaking of Musk’s latest comments with Fast Money from CNBC on July 22nd, Carter said he was “happy” that Musk had started “evaluating the facts on the ground because they are very cheap”..
Carter echoed Musk’s sentiments about China-based BTC mining, noting that “Chinese hash rate was heavily influenced by the energy produced by coal” and that there was a lack of transparency among “anonymous miners” in this region.
“Fundamentals are improving in terms of the sustainability of Bitcoin”said Carter. The Coinmetrics co-founder pointed out that Miners in the US and Canada are more likely to use sustainable practices and are more willing to disclose information.
“A lot of it [minerÃa en China] has been superseded by mining in Canada and the United States, where miners are much more focused on sustainability. We’re also seeing a lot more disclosures from miners, 32% of the hash rate has joined a council, the Bitcoin Mining Council, and now they’re doing quarterly reports, ”he said.
Carter referred to the latest study by the Bitcoin Mining Council (BMC) that surveyed 32% of miners on the BTC.network network.. The survey resulted in an estimate of a sustainable energy mix of 67% in the second quarter.
However, it is unclear whether Musk viewed this study as part of his due diligence.because it was based on self-reported data from a limited set of only three survey questions.
Carter admitted that BTC’s sustainability will not be fully verifiable until the world sees where the majority of miners settle after the exodus from China. However, in his own opinion, he noted the following:
â ???? I think Bitcoin is perfectly adequate for payments today, and of course the environmental costs are outweighed by its enormous benefitsâ ????