Elon Musk Should Work More on BTC Mining. Kraken’s CEO Jesse Powell stated that cryptocurrency is actually much more environmentally friendly than people believe, and Elon Musk should research Bitcoin mining more.
Last month, Musk made a big splash on the agenda by stating that Tesla would no longer accept Bitcoin payments due to environmental concerns. Musk later made various comments about the energy use of Bitcoin mining. On top of that, although many experts on the subject expressed to Musk that his thought was wrong, the Tesla CEO does not seem to be impressed.
In addition, Musk recently stated that Tesla can accept BTC again when 50% of Bitcoin mining is switched to clean energy.
Mining Is Greener Than Thought
On the other hand, Jesse Powell is among those who believe that the leading cryptocurrency is actually much more environmentally friendly than people think. Speaking to Bloomberg, Kraken CEO stated that Elon Musk needs to work more on BTC mining, as the leading cryptocurrency has done a lot in terms of renewable energy use.
Powell said in his statements on the subject, “I think there may be cleaner alternatives. But I think Bitcoin is much more environmentally friendly than people think. I think it adds a lot to the renewable energy sector. I don’t know how long Elon has been working on this, but I think he needs to work more on it.” used his words.
In addition to all this, Powell stated that after the bull market in 2021, the crypto money market has cooled down relatively.
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