Elon’s U-Turn: Tesla’s Bitcoin Payments Might Just Rev Up Again

Bitcoin has finally crossed Musk’s much-anticipated green threshold. Recent data from Bloomberg Intelligence suggests that about half of Bitcoin’s energy now comes from sustainable sources. 🚀

The energy consumption of Bitcoin has always been a contentious point. Detractors have been quick to point out its voracious appetite, likening its energy use to that of entire nations. They argue that the crypto’s reliance on fossil fuels, especially coal, is a ticking environmental time bomb.

Flashback to February 2021: $TSLA made waves by investing a staggering $1.5 billion in Bitcoin and endorsing it as a legit payment method. But, in a classic Musk twist, Tesla hit the brakes on Bitcoin payments just three months later, citing environmental concerns. However, Musk dangled a carrot, hinting that Tesla might reopen its doors to Bitcoin if miners could show they’re leaning into clean energy.

While it’s tricky to pin down the exact energy mix of Bitcoin, the latest analysis from Bloomberg Intelligence is clear: Bitcoin is greening up. 

So, with the evidence stacking up in Bitcoin’s favor, the ball’s in Musk’s court.  💰

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The SEC, Jump Crypto, and Terraform Labs

A U.S. court has given the green light for Jump Crypto to whisper sweet nothings (read: confidential info) to the court, away from our prying eyes. 👀

Let’s rewind a bit. Terraform Labs and its ex-CEO, Do Kwon, are in hot water with the SEC. The charge sheet? Allegedly peddling unregistered securities and dabbling in fraud, raking in billions in the process. Their lol-stablecoin, TerraUSD ($UST) crashed and burned in May 2022, now worth a measly $0.01. 

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Technically Speaking – November 3, 2023

It’s easy to get caught up in the big moves of individual cryptos, but over the past 30 days there’s been a sort of hidden rally in cryptocurrencies focused in the DeFi sector. 👁️‍🗨️

Let’s take a look at a couple of those charts. 

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Technically Speaking – November 22, 2023

If the culmination of all known and unknown variables is represented through price action, then yesterday’s Binance and CZ FUD was a nothing burger. 🍔

Binance, Kraken, the SEC, crime, bla bla bla bla, just noise – let’s look at some of the charts and see what price is doing, not how much noise the news is making. 

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