Worried About Crypto Energy Use? Check Out These Clean Energy Plays Matthew DiLallo, Neha Chamaria, and Reuben Gregg Brewer © Provided by The Motley Fool Worried About Crypto Energy Use? Check Out These Clean Energy Plays
Tesla s (NASDAQ: TSLA) Elon Musk recently made headlines after saying the electric vehicle maker would no longer accept
Bitcoin (CRYPTO: BTC) as a payment due to rapidly increasing use of fossil fuels for bitcoin mining and transactions. According to the Cambridge Bitcoin Electricity Consumption Index, the cryptocurrency uses more energy than entire countries, including Sweden and Malaysia.
However, while fossil fuels are the global economy s primary power source right now, we re rapidly pivoting toward cleaner alternatives. Several companies are helping drive the energy transition. Three that stand out to our energy contributors as leaders are
Why does Bitcoin consume insane energy?
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Bitcoin tanks below $40,000; here s why- Business News
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Bitcoin’s next step forward aims to address adoption hurdles
Mitchell Lawler | May 17, 2021 4:13pm |
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It has been a demoralising month and week for
Bitcoin(CRYPTO: BTC) investors. After topping out at an all-time high of $83,598.87 mid last month, the speculative digital asset has been struggling to find its feet.
Previously a catalyst for upwards momentum following the announcement of buying and accepting Bitcoin,
Tesla Inc(NASDAQ: TSLA) CEO Elon Musk is now being blamed for the accelerated selloff in the cryptocurrency over the last week.
Elon Musk tweeted that Tesla will no longer accept Bitcoin amidst his own concerns of exorbitant energy usage per transaction. Now investors are wondering whether the electric vehicle company has dispensed the original crypto completely from its balance sheets.