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New statements on Bitcoin from Elon Musk

Photo of: Joseph Stone
by Joseph Stone

During “The B World”, Elon Musk gave his most recent opinions on Bitcoin and crypto in general.

Elon Musk has been the architect of some of the most grandiose buildings in recent Bitcoin history (his announcement of Tesla acquiring $1. 5 billion in Bitcoin and then accepting it as a means of payment for the purchase of its electric vehicles is globally considered one of the main reasons for Bitcoin’s recent high of $52,000), as well as the most decaying (his reversal a few weeks later under the guise of Bitcoin suddenly being “too green” and his immoderate affection for certain puppy dog-headed coins being identified as profoundly discrediting factors for a market as volatile and immature as cryptocurrencies).

If Elon Musk has made unpredictability a form of trademark, even regularly managing to act seemingly against his own interests or those of his many companies, the whole of his speech regarding Bitcoin was particularly positive and bullish.

Elon Musk begins by returning to the market fluctuations he tends to cause and reminds us of a simple rule in this matter:

” I can make (Bitcoin) , but I don’t dump it. “

Elon Musk confirms that he has asked his team to potentially create a backup heater that would also mine Bitcoin or cryptocurrencies.

Note that this idea is not new, and has even already gone from concept to finished product thanks to Wise Mining and its Sato boiler.

Elon Musk wants to install a Bitcoin node in his Starlink satellites
“One idea, would be to put a bitcoin node in SpaceX’s Starlink terminals, so that more people would use bitcoin. In fact… I submitted this idea to the team.”

So Elon Musk says, in addition to Internet coverage, his satellite network could host and distribute the Bitcoin blockchain anywhere, including the most remote locations.

Elon Musk recognizes that Bitcoin mining is becoming increasingly green.
This is the big topic of the moment: the supposedly unreasonable carbon footprint of Bitcoin mining; and while the debate is not new (and was anticipated by Satoshi Nakamoto himself), this is indeed the topic that is occupying the entire industry and conditioning the current major maneuvers, from China’s ban on mining, to the rise of the United States, to the emergence of a National Bitcoin Miners Council, which is very pro-active on the subject.

We recall that Elon Musk has conditioned the return of Tesla to bitcoin payments to the guarantee of a mining on renewable energy reaching at least 50% of production.

A subject on which Musk now seems optimistic, although he wants to do some more research:

“It seems that Bitcoin is moving strongly towards using renewable energy. I want to do a little more diligence to confirm that the percentage of renewable energy use is most likely at or above 50 percent and that there is a trend toward increasing that number…”

Tesla and Bitcoin payments are back on the agenda.
If the previous condition comes to pass, the Tesla boss says he is ready to make good on his promise to bring his electric vehicle manufacturing company back into the Bitcoin payment ecosystem. Elon Musk confirms that Tesla is ready to resume payments in Bitcoin.

“I own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin”

As we can see, Elon Musk’s intervention on B World was rich in revelations and largely clarifies the billionaire’s plans for Bitcoin. As for his fundamental opinion on the queen of cryptocurrencies, Musk sums it up simply, far from the pure business logic that one could lend him: “My hope for Bitcoin is that it will allow a better standard of living and more power for the individual. The years to come will allow us to judge the sincerity of this credo.