Elon Musk at the B Word: Tesla towards a return to bitcoin now that it is 50% green

“My hope is that it will create world peace or help create world peace”, with these words Jack Dorsey, addressed to bitcoin and cryptocurrencies, launched “The B Word, the online event built with Cathie Wood of ARK Invest to talk about the future of cryptocurrencies and their role in institutions as a tool for economic and social empowerment. Adding, also on Twitter: “All these distractions we deal with on a daily basis take us away from the bigger goals that affect every single person on this planet. It will be long-term, but my hope is surely peace ”. Dorsey is a longtime advocate of digital currency, as early as 2018 he claimed that cryptocurrency will eventually become the “single currency” of the world. Last year, Square bought about $ 50 million in bitcoin, which is roughly 1% of its balance sheet, and last week, Dorsey announced that Square is building a new decentralized financial services business using bitcoin. But there is no doubt that the most awaited guest at B Word was undoubtedly Tesla’s patron Elon Musk, the man who with every tweet on the subject of cryptocurrencies swings the prices of bitcoin and various relatives by several points. . This was the turn of Ethereum which reached its high of the day: as soon as Musk declared that he owned a certain amount of it, it marked an immediate growth of 12%. During his speech, the Tesla boss reiterated his support for cryptocurrency in general, despite the potential environmental risks, saying: “One thing you need to be careful with cryptocurrencies, especially bitcoin, is the fact that they consume a little too much energy and not necessarily good for the environment “. Although he stated that he does not have particular quantities of cryptocurrencies in portfolios apart from, in fact, a quantity of Ethereum and Dogecoin: “The only significant thing I own outside Tesla is SpaceX”. However, he confirmed that both Tesla and SpaceX have substantial amounts of bitcoin and no other cryptocurrency in their bellies right now. The question of green mining, in short, is always at the center of Musk’s thoughts, who explained: “It seems that bitcoin is moving a lot more towards renewable energy and a lot of coal-fired power plants that were used for this business have been shut down, especially in China. I want to do other checks to confirm that the percentage of renewable energy use in their production is most likely 50% or more and that there is a trend for a further increase. In this case, Tesla will most likely resume accepting bitcoin ”. Also: “Long-term renewable energy will be the cheapest energy, but it won’t happen overnight. As long as there is a conscious and determined effort by the mining community to move towards renewable energy, of course Tesla intends to support it ”.