Elon Musk returns to the Bitcoin issue with a tweet: it is a drop in prices
Elon Musk returns to express himself on the Bitcoin issue and does so with the means most congenial to him: a tweet. An aura of animosity towards Tesla’s founder and CEO swept over the course of last Friday’s Bitcoin 2021 conference after Musk tweeted a heartbroken emoji on the Bitcoin issue. Which, of course, some investors have linked to drop in cryptocurrency prices.
#Bitcoin 💔 pic.twitter.com/lNnEfMdtJf
– Elon Musk (@elonmusk) June 4, 2021
A number of conference attendees posted theirs on social media disappointment against Tesla’s CEO, who recently announced that Tesla will stop accepting Bitcoin for vehicle purchases due to environmental concerns which was attributed the decline in the markets in May.
The cryptocurrency approached $ 40,000 before the first day of the conference, but dropped to just over $ 35,500 late on Thursday evening. Musk posted the broken heart tweet around 9:00 PM EST. The billionaire tech entrepreneur expressed environmental concerns with the Bitcoin mining process, which is the process of creating the cryptocurrency. Bitcoin mining is done by solving math puzzles on powerful computers that require large amounts of energy.
What the experts think
But other cryptocurrency experts I disagree with Musk’s assessment. In fact, some believe that “Bitcoin is the most efficient use of energy that the human race has ever invented”. A claim that diverges from that of Musk, a longtime public advocate of cryptocurrencies, that the current mining process is too dependent on fossil fuels.
Some cryptocurrencies, such as SolarCoin, Cardano, Ripple, and BitGreen, have made “green” or sustainable cryptocurrency mining processes as a focus. And this does not mean that we cannot get involved in these processes by trying to invest in one of these cryptocurrencies. There are many platforms to rely on and the official Crypto Genius website it is perhaps one of the most reliable.