Tag Archives: elon musk

Bitcoin is trading more or less where it was a week ago, following another seven days of choppy price actions. This time, however, it seems that it was an event that propelled its most recent decline and the catalyst was no other but Elon Musk. Last weekend kicked off with a crash towards $33K on Saturday, followed by an increase and yet another decline to roughly around the same area on Monday. As the workweek began, the price started recovering, and it reached well over...

Bitcoin whales seem not to care about Elon Musk’s comments on bitcoin anymore as they have continued accumulating significant portions of the asset. Such wallets have expanded their BTC holdings by roughly $2 billion since the market started dumping. Bitcoin Whales Keep Purchasing Bitcoin whales are typically described as wallets containing between 100 to 10,000 bitcoins. According to data from the analytics company Santiment, such addresses have been unfazed by the latest...

Daymak – a Canadian electric vehicle manufacturer – is planning a new car that will allegedly mine bitcoin and cryptocurrencies while charging. The vehicle is already set for pre-order and will be available to customers beginning in the year 2023. Daymak Is Bringing Cars and Crypto Together The new model will be known as the Avvenire Spiritus and will be able to extract new units of currencies such as bitcoin and Dogecoin, the ever-popular meme currency which has...

The stimulus bill signed by the US government pushed Miami’s pro bitcoin mayor to purchase portions of the two largest cryptocurrencies by market cap. In a recent interview, Francis Suarez also touched upon the role that Elon Musk plays in the market and said that BTC could serve as a valid hedge only after it stops going up and down by double-digits after interactions by Tesla’s CEO. Miami Mayor Owns BTC and ETH Ever since the start of the year, Francis Suarez, the current...

Elon Musk’s debacle with the cryptocurrency community over BTC’s energy consumption levels has turned people against him, revealed a recent report. A company tracking social sentiment has outlined a significant reversal in social media engagements, with the majority taking a negative approach towards Tesla’s CEO. Elon Musk Sentiment Goes Into Negative Territory It’s safe to say that Elon Musk is among the most influential people these days. The billionaire runs some of the...

Changpeng Zhao – the CEO of Binance, arguably the largest and most popular cryptocurrency exchange by daily trading volume – has called out Elon Musk over his alleged lack of willingness to accept bitcoin payments for Tesla-based goods and services. Elon Musk Has Attracted Some Backlash from Zhao It appears Zhao has issues with Musk’s recent words regarding the mining process behind bitcoin. While Tesla was initially set to accept bitcoin as a method of payment, Musk...

TRON’s Justin Sun agrees with Elon Musk’s concerns on the carbon footprint that bitcoin mining leaves. He believes the proof of work consensus algorithm has its flaws and urged people to strive to use more green energy. Sun Agrees With Musk Tesla’s CEO made the news several weeks ago when the EV-maker disallowed bitcoin payments for its products. Ever since then, Musk repeatedly outlined the high levels of energy used by the primary cryptocurrency and urged miners to use more...

In recent weeks, Elon Musk – the South African entrepreneur behind billion-dollar companies such as Tesla and SpaceX – has been taking a lot of flack regarding his stance on bitcoin and his alleged role in the asset’s downfall, but according to Cathie Wood of Ark Invest, Musk is going to prove to be one of the most positive figures in the crypto space in the coming future. Elon Musk May Be a Big Part of Crypto in the Future Musk has been highly controversial as of late...

Iran has officially banned bitcoin mining. In a recent statement, the country’s president Hassan Rouhani says that the nation has been the victim of numerous blackouts over the past several months and officials are claiming the extraction of new digital coins could be the cause. Thus, the government is not willing to take any chances and is setting a ban in place before things can potentially get worse. Iran Ends All BTC Mining… For Now Bitcoin mining has been under...

Not long ago, it was reported that Elon Musk was starting to ask bitcoin miners where they got their energy from as a means of better understanding who was using clean energy to extract coins and who was not. Elon Musk Isn’t Putting His Mining Fears to Rest Now, it appears Musk has initiated the first collection of conversations with these miners, and he is happy about the information he has received. This has ultimately sent bullish waves through the crypto space and...