Do you know that! Elon Musk is behind huge Bitcoin rise

Do you know that! Elon Musk is behind huge Bitcoin rise

After Elon Musk’s car company Tesla said it had purchased around $1.5bn (£1.1bn) of the cryptocurrency, Bitcoin hit record highs for a second day.
Until dropping down, Bitcoin soared above $48,000 (£34,820), but it remains about 25 percent higher than a week ago. Tesla’s move was taken by some investors as an indication that Bitcoin would become a mainstream financial asset.
There was some criticism, however, of a green car company investing in such an energy-intensive currency.
According to research from the University of Cambridge, Bitcoin actually consumes more resources per year than Argentina.
Cryptocurrency development, known as Bitcoin mining, includes energy-hungry hardware for computers and ever-increasing amounts of processing power.
“Tesla: Sells carbon credits to buy Bitcoin, which requires as much energy (not always Green energy) as a small country to mine.”Tesla: Sells Bitcoin carbon credits to buy, which requires as much energy (not always green energy) as my own small country.

Leave a Reply

Your email address will not be published. Required fields are marked *