Musk says Tesla will likely accept bitcoin again in climate backtrack

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Yahoo Finance 22 July, 2021 - 02:43am 33 views

Does spacex own Bitcoin?

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. The IndependentElon Musk reveals SpaceX owns bitcoin and has no plans to sell

Does Elon Musk own ethereum?

Musk also revealed he personally owns Ethereum, sending the price of the Bitcoin rival past $2,000, as well as Dogecoin, the meme cryptocurrency he has taken a particular interest in in recent months. ForbesElon Musk Still A Bitcoin ‘Supporter’: ‘I Own Bitcoin, Tesla Owns Bitcoin, SpaceX Owns Bitcoin’

Justifying the move, he said on Wednesday at the B-Word conference, an event hosted by the Crypto Council for Innovation: "It looks like bitcoin is shifting more toward renewables and a bunch of the heavy-duty coal plants that were being used...have been shut down, especially in China.

“I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number."

If this is the case, Tesla will likely readopt sales in bitcoin, he said. 

Prices moved higher following the comments with bitcoin heading 4.4% up to $32,159 (£23,423) in early trade in London. 

Ethereum (ETH-USD), the second most popular cryptocurrency also gained 7.3% in early trade — heading above the $2000 mark. 

In May, Musk stopped the use of bitcoin for car purchases due to questions surrounding its environmental impact— a move that erased 10% of bitcoin's value in one day.

The use of bitcoin to buy Tesla's electric vehicles had highlighted a dichotomy between Musk's reputation as an environmentalist and the use of his popularity and stature as one of the world's richest people to back cryptocurrencies.

Some Tesla investors, along with environmentalists, have been increasingly critical about the way bitcoin is "mined" using vast amounts of electricity generated with fossil fuels.

Read more: IPO Watch: Bridgepoint shares surge on London debut

Since then there has been a crackdown on mining in China, with many expelled from the country

The cryptocurrency's price has convulsed in recent months as a result of various moves by states and countries, knocked off all-time highs of more than $63,000 in April to trade at around half that just months later.

Investors have their eyes firmly set on the ECB, which is expected to announce a more flexible strategy to deal with inflation.

(Bloomberg) -- Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here.China and the U.S. are shipping goods to each other at the briskest pace in years, making the world’s largest bilateral trade relationship look as if the protracted tariff war and pandemic never happened.Eighteen months after the Trump administration signed the trade deal, the agreement has turned out to be a truce at best. The U.S. trade deficit hasn’t shrunk, most levie

Tesla CEO Elon Musk on Wednesday said spacecraft maker SpaceX, of which he is also CEO, also owns Bitcoin.

Lucid Motors will soon go public with the luxury electric-vehicle startup poised to become one of the biggest new EV stocks.

The firm had said in May it would no longer accept the cryptocurrency over environmental concerns.

The outlook for hotel jobs remains remains weak, according to one new survey.

S&P 500 investors are bravely buying dips following sell-offs like never before. And they're showing some of their favorites.

(Bloomberg) -- Bitcoin held around $32,000 in a consolidation of a rebound stoked by comments from Elon Musk, Jack Dorsey and Cathie Wood on the future of the largest cryptocurrency.The digital asset traded near $32,000 as of 10:35 a.m. in Singapore on Thursday after jumping 6.5% a day earlier. Other cryptos, including Ether and Dogecoin, held onto gains, as did the Bloomberg Galaxy Crypto Index.Tesla Inc. already owns Bitcoin but Chief Executive Officer Musk revealed at a conference that his sp

Gross margins are expected to be more than 80% based on the current bitcoin price and its network difficulty.

Take a look at the net worth of former Vice President Joe Biden as he competes to be the 2020 presidential nominee for the Democratic Party.

A drop in cryptocurrency prices may have spooked investors who are betting that demand from miners will continue to drive chip sales.

The CEO of Mobileye, a key supplier of self-driving technology, lays out the future of driverless cars

Democrats’ plan to spend more than $4 trillion over a period of years on everything from road repair to child care would boost the U.S. economy in the long run without sparking higher inflation, according to a new analysis from Moody’s Analytics. Roughly tracking President Biden’s Build Back Better agenda, the $579 billion infrastructure bill currently under negation in the Senate, and the $3.5 trillion reconciliation package Democrats hope to pass alongside it, would increase GDP growth while b

Bitcoin fell on Tuesday to its lowest in almost a month, slumping below $30,000 as regulators continued calls for tighter checks on cryptocurrencies. The world's largest cryptocurrency fell as much as 5% to $29,300, its lowest since June 22. Smaller cryptocurrencies such as ether and XRP, which tend to move in tandem with bitcoin, also lost around 5%.

The ARK Innovation ETF might lure investors into a "bull trap," wrote J.P. Morgan strategist Shawn Quigg.

Monday's market rout may be in the rearview mirror already. But it still serves as a good reminder that, yes, stocks can stumble when they trade near record territory, particularly in late summer months.

According to a July 20 research briefing released by Oxford Economics, Southern and Midwestern labor markets are leading the rest of the country in their recoveries from the pandemic, with eight of the 10 “most robust” recoveries seen in these two regions.

The surge in COVID-19 cases from the Delta variant is not yet substantial enough to darken the U.S. economic outlook, said Morgan Stanley’s top U.S. economist Ellen Zentner.

To market veterans, talk of a stock-market “bottom” after a mere 3% pullback sounds odd, but that's the sort of world investors live in right now, says one chart watcher.

Read full article at Yahoo Finance

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