Elon Musk’s recent announcements and actions on the sustainability of Bitcoin mining have raised questions about the reasons and motives of Tesla’s Technoking. Is it possible that Musk will play a well-planned marketing game to introduce Tesla’s mining solutions?
Musk calls the Bitcoin mining world
Once, in the past 49 days, the whole world could buy Tesla with Bitcoin. Then, on May 12, Elon Musk tweeted the now infamous tweet, saying that Tesla “suspended” car purchases that use Bitcoin because more and more fossil fuels are used Bitcoin mining and trading.
This is a strange announcement. When it was announced that Tesla would start accepting Bitcoin, did Musk not know the Bitcoin mining footprint in March? Or when he bought $1.5 billion worth of cryptocurrency?
Another question that must be solved – how many Teslas were actually bought with Bitcoin in these glorious 49 days? Tesla has no data on this, but it can be speculated that none of Tesla is paid in Bitcoin. This makes Musk’s announcement even more curious. What prompted him to overturn his previous decision to accept Bitcoin?
In order to increase confusion and avoid scrutiny of Bitcoin’s free fall in the days that followed, Musk assured the market on May 17 that Tesla “did not sell any Bitcoin.”
To clarify the speculation, Tesla did not sell any Bitcoin
-Elon Musk (@elonmusk) May 17, 2021
But the green elf had already taken it out of the bottle. Bitcoin mining has become the subject of a trough. In more than a week, Musk sat aside and let the discussion continue, while the market value of Bitcoin evaporated by $250 billion.
Then, on May 20, Musk had an epiphany. Suddenly, he came up with a solution to the reputation crisis he created for Bitcoin: miners “will only release the auditable amount of renewable energy, not the auditable amount.”
I agree that this can be done over time, but the recent extreme increase in energy use cannot be achieved so quickly with renewable energy.
If the top 10 hash organizations publish only the amount of renewable energy that has been audited, the problem is easy to solve.
-Elon Musk (@elonmusk) May 20, 2021
From there, things changed surprisingly quickly. In just three days, Musk and Microstrategy’s Michael Saylor held a “secret meeting” with the top miners in North America. At the meeting, Musk persuaded the miners not only to publish an energy report, but also to form a Bitcoin mining committee, which aroused carnivals and criticism.
Tesla swaps mines for greener Bitcoin
The question remains-what is Musk’s end game? Musk’s calculations are sufficient to assume that this incident is not a coincidence.
Regarding musk, we can assert two things. First of all, he truly believes in the importance of green renewable energy to the future of the planet. As a result, it has driven the market for electric vehicles and solar panels. If our collective efforts to green the earth fail, he even has an exit strategy-move to Mars. Therefore, it can be assumed with a high degree of certainty that Musk launched a campaign to “clean up” Bitcoin mining activities. He has enough influence, power and influence to promote real changes in the way Bitcoin and other cryptocurrencies are mined.
The second thing about Musk is that he is a construction worker. All his current businesses are producing tangible products, whether it’s cars, rockets or wall batteries. He knows the way around hardware.
So if we try to put together everything from the past two weeks, is it reasonable to assume that Musk is actually planning to introduce a Tesla mining solution? He has a wealth of knowledge and resources. Now, after creating a sustainable mining solution for the crisis in the cryptocurrency market with one hand, he is positioned as a savior by proposing a solution.
Discussions about Bitcoin energy issues will not go away. This will need to be resolved. Is anyone more suitable and capable of solving this problem than Musk himself? Probably not, Musk knows this.
Will Musk enter Bitcoin mining? Will Tesla provide a “clean” mining solution? Let us know what you think in the comments section below.
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