ELON MUSK JUST CRASHED BITCOIN AGAIN
Wisethero
English - August 07, 2021 16:56 - 8 minutes - 20.6 MBSociety & Culture Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Elon Musk has revealed that SpaceX has invested its cash reserves in bitcoin, following on from Tesla’s announcement earlier this year that it bought $1.5 billion of the cryptocurrency.
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Mr Musk said he floated an idea to the SpaceX team of building a space heater that also functioned as a cryptocurrency miner.
“I had this idea that was kind of off the wall,” he says. “What if a space heater was also a bitcoin/ ethereum/ dogecoin miner.”
It would make sense, he claimed, to have the heater serve a function beyond simply generating heat.
The technology billionaire has proved divisive within the crypto community after his decision to allow bitcoin payments for Tesla vehicles contributed to a price rally that saw the cryptocurrency hit a new all-time high above $60,000 in April.
His subsequent announcement that crypto payments would be suspended due to environmental concerns of the bitcoin network coincided with a major price crash that saw btc lose more than half of its value.
Mr Musk said Tesla could soon begin accepting payments in bitcoin once the firm has done its “due diligence” in evaluating the actual impact of bitcoin on climate change.