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TL;DR
Bitcoin has copped loads of dangerous press through the years for its wildly extreme vitality consumption.
However the Bitcoin neighborhood at all times insisted that they’d develop and undertake renewable vitality methods sooner than most different industries.
That narrative is now being confirmed true, with 53% of Bitcoin’s whole vitality use being renewable.
Full Story
March 2021: Tesla begins accepting Bitcoin, and over the next weeks, BTC pumps to ~$60k.
Could 2021: Tesla stops accepting Bitcoin, sighting environmental issues, saying they’re going to think about accepting BTC once more, as soon as its powered by 50%+ renewable vitality.
The Bitcoin value is minimize in half (all the way down to ~$31k) over the next weeks.
September 2023: new modeling has discovered that sustainable vitality now accounts for 53% of Bitcoin’s whole vitality use!
Does this imply Tesla goes to right away begin accepting Bitcoin funds once more? No concept!
The necessary half is that this:
Bitcoin has copped loads of dangerous press through the years for its wildly extreme vitality consumption.
In response, the Bitcoin neighborhood at all times insisted that they’d develop and undertake renewable vitality methods sooner than most different industries, as there was a direct financial incentive to take action.
To which many pundits responded “pffft…we’ll imagine it once we see it.”
…nicely, now we’re seeing it!
The inexperienced narrative posed by the BTC neighborhood is being confirmed – and powerful narratives can transfer markets!
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