Money

Bitcoin skyrockets after Elon Musk tweets about its “promising potential”

Published

3 years ago

May 25, 2021

Anthony Lucas

Elon Musk has confirmed he has spoken with Bitcoin Miners in North America.

In a tweet the Tesla CEO says Miners are committed to publish current and planned renewable usage

The Tesla boss also stated miners in North America would also ask other miners worldwide to do the same.

The Billionaire entrepreneur ended his tweet and stated the future of the crypto is:

“Potentially promising”
Elon Musk stated the future of greener solutions in Bitcoin are promising.

Just a few weeks ago, the Tesla boss made a huge move to suspend Bitcoin transactions at Tesla, meaning customers can no longer purchase an EV using the crypto as a payment method.

Elon sited environmental concerns for bitcoin mining as the reason for that suspension.

The price of Bitcoin jumped about 4% following Musk’s tweet, promising hope that he was having active discussions regarding the sustainability of the digital coin.

Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.
— Elon Musk (@elonmusk) May 24, 2021

Hailed as a ‘crypto king’, Elon Musk has been a big supporter of cryptocurrencies, helping rally the prices of digital coins, including Bitcoin, several times in the past year. His tweets and comments around cryptocurrency often send the prices soaring or plunging.

Related Topics:Elon Musk Featured trending

Up Next

Dolce and Gabbana slammed by Russia over same-sex ad

Don't Miss

Global leaders want answers: Why Belarusian activist was detained

Anthony Lucas

Click to comment

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending