Month: June 2021

Early Crypto Pioneer Slams Elon Musk’s ‘hypocrisy’ On Bitcoin Payments

Do you know that one early crypto entrepreneur has made a big statement on Elon musk? Yes, he thinks that Elon musk did have moral consistency when it comes to bitcoin management. This crypto entrepreneur is the first physical cryptocurrency exchange founder, and he has slammed Elon Musk, the electric car company Tesla owner. This statement was said after the Tesla car company owner announced that Tesla will not accept the payment made via bitcoins.

You will be amazed to know that the charges of this cryptocurrency were increased because Elon musk is not going to accept the bitcoin payment. However, he still owns the $1.5 billion world of bitcoins in the balance sheet of the Tesla car company. If you always stay updated with the bitcoin news and information, you might also have heard that Elon Musk has criticized a lot about bitcoin’s energy consumption in his recent tweets. In this tweet, he announced that Tesla has stopped accepting bitcoin payments for purchasing the vehicle. This was a sudden U-turn of Musk, which came just after six weeks of his announcement of the Tesla company accepting bitcoin payments from the US customers.

According to the founder of the centre in New York City and the co-founder of Zap protocol, nick Spanos has said that the fact that tesla car company still owns the $ 1 billion worth of bitcoin signifies that Elon musk still wants to make a profit from it of what he says that is not good for the environment. He further said that he is challenging Elon musk that if bitcoin is too bad for him to accept as a means of payment for Tesla, it should be equally dirty for holding the bitcoin or for the profits for which every person is using it.

He also slammed Elon musk that if Elon musk was so concerned about the environment, he would have allowed the trade of bitcoin in return for the completely clean cars, which doesn’t affect the environment. In addition to it, Spanos also reminded the fact that a huge part of the bitcoin power consumption is very sustainable because of the reactivation and the construction of the hydroelectricity sources that are new. He says that this is all done for manipulating the price of bitcoin, and that’s all.