Elon Musk has flipped back to again say Bitcoin is now green enough to buy.
Remember last month when Bitcoin’s fossil fuel use was too much for Elon?
Well according to the Tesla and SpaceX CEO who yesterday spoke at the B Word Conference with Cathie Wood and Jack Dorsey, this is no longer a problem.
“I want to do a little more due diligence to confirm that the percentage of renewable energy usage [that is used in Bitcoin mining] is most likely at or above 50%”
“If so, Tesla will most likely resume accepting Bitcoin.”
Problem solved :)
During the conference, Elon also revealed that he owns Bitcoin for both his companies as well as in private holdings.
“I own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin.
Turns out that Bitcoin is going green and he’s a happy HODLer again.
Hooray!
Bitcoin’s fossil fuel use
But seriously, what a load of horseshit Elon saying that Bitcoin is now green enough for him and his companies is.
More like...
Question to Elon: “Is Bitcoin green?”
Elon’s REAL answer: “Only when BTC/USD trades at support.”
Right?
I mean just take a look at the chart with featuring the only Bitcoin support levels that matter.
(The 30K-40K range if you haven’t been following along.)
Bitcoin (BTC/USD) Daily:
Isn't it a crazy coincidence that right as BTC/USD hits key support, Elon Musk is back front and centre?
This time yapping on about how Bitcoin is suddenly greener than it was a month ago.
While all of the mainstream media outlets lap it up.
Give me a break.
It all comes back to the smart money
Markets are a cutthroat battleground pitting smart money against a plethora of dumb money.
Here we have yet another example of smart money taking advantage.
The smart money devouring the dumb is a concept I’ve talked about a lot on this blog and brought to the fore as the market pulled back (or depending on who you ask, while Bitcoin crashed)
Can you tell which category those buying Bitcoin for Elon’s companies would fall under?
Lol.
Retail traders are nothing more than liquidity for the rich to take advantage of.
And boy, doesn't the smart money know how to do it.
Don't waste your precious Bitcoin by providing the liquidity these guys need to trade.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Leave a comment and share your thoughts on Bitcoin going green, within the comments section below? Am I thinking about this the right way, or do you completely disagree?
This Bitcoin blog is exclusive to leofinance.io.
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Well I guess he finally spent more than one hour studying the topic of mining electricity ⚡️ Consumption.
I guess he should have done it from the start…
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Elon knows exactly what he's doing.
You underestimate his intelligen$e, haha.
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I guess you are right but he likes so much to play dumb. I don’t see the big picture in his changing views.
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Really?
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I think Elon was forbidden from tweeting about Tesla during market hours because he was always tweeting at the right time. So I think its all calculated.
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Of course it is calculated.
Elon is no fool.
You don't get as rich as him being a fool ;)
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Elon is a smart man, all these are actually calculated or premeditated if you ask me.
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I definitely agree with you.
He's too rich to be a fool haha.
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It's like I said, this guy just didn't like the price so high and wanted to buy more, so he did what he needed to do to dump the bitcoin price to the floor and buy with bargain, those who sold and gave in to this FUD crap must be very happy and joyful, they have made this idiot richer.
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Elon certainly has influence over price and he knows it.
While it might not be allowed in traditional markets, he can essentially do what he wants in crypto.
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Elon is full of shit. He's nothing more but an attention whore imo.
It's definitely clear that "now Bitcoin is green", just after he bought.
Love this article. It points out exactly what these rich guys are doing and how dumb retail money is.
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Laughable, isn't it ;)
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