Crypto fans saw a shock early today when Elon Musk announced on Twitter that Tesla would stop accepting Bitcoin payments due to environmental concerns.
Meanwhile, just a few months earlier, Elon Musk himself said that Tesla bought $ 1.5 billion in Bitcoin. When Cathie Wood's Ark Investment Management cited a Twitter report that Bitcoin mining could actually consume large amounts of renewable energy, the billionaire replied, "Yes".
Immediately after Elon Musk's new announcement, Bitcoin fell 15% to nearly $ 46,000 then rebounded. As of 2:45 pm in Hong Kong, this currency recorded a decrease of 6.4% and traded around 51,039 USD.
Here are some crypto experts' opinions on this:
Will Bitcoin make a new high?
According to David Grider of Fundstrat Global Advisors, this could be the sell-off that could push Bitcoin to new highs. " We think this claim has been overblown, and it wouldn't be surprising if Tesla was signaling a green energy mining plan, " he said.
Go find the answer
Investor Michael Terpin said: " The most plausible explanation is that Elon Musk is under pressure from ideas that a CEO of a green energy business owns cryptocurrency ."
He added: " First, the energy consumed almost without sending Bitcoin and the exploitation of this coin is also less energy-intensive than mining gold, or power supply systems Bank around the globe . "
Keep track of other digital currencies
Some other experts believe that it is very likely that Musk will aim to promote a different digital currency than green energy mining. One of the most likes on Twitter after Musk's announcement came from Billy Markus - co-founder of Dogecoin.
" If only there was a mined digital currency that produced a lower carbon rate than Bitcoin and had a dog logo on it, " said Markus .
However, for some, Elon Musk's move is just to add to distrust. Yassine Elmandjra, a crypto analyst at Ark, said in an answer to Musk's tweet: " Let's say your account was hacked without our knowledge ."
Meanwhile, Cameron Winklevoss, co-founder of crypto exchange Gemini Cameron, shared on Twitter: " Looking back, this is a great bottom-fishing opportunity .
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