Elon Musk is at it again. Talking about cryptocurrency. On Monday he tweeted he had spoken with North American Bitcoin miners. He said, 'they have committed to publish current and planned renewable usage and to ask miners WW to do so. Potentially promising', he said.
If you recall, Musk’s plaint about Bitcoin specifically was that it led to energy waste.
On May 13, Musk told his followers on Twitter that Tesla had stopped accepting bitcoin to purchase its vehicles due to climate concerns. Tesla was looking at other cryptocurrencies that use 1 percent of Bicoin's energy/transition. Tesla will not be selling any Bitcoin and intended to use it for transactions as soon as mining transition to more sustainable energy, he tweeted.
That tweet sent Bitcoin-the world's biggest digital currency, crashing over 7% to $52,669.
Launched in early 2009 by its pseudonymous creator Satoshi Nakomoto, Bitcoin is the largest cryptocurrency measured by market capitalization and amount of data stored on its blockchain.
On Tuesday, Musk said Someone suggested changing Dogecoin fees based on phases of the moon. He termed it ‘pretty awesome’ before ending it with a ‘haha’. He asked for ideas to develop his current favourite currency, Doge: If you’d like to help develop Doge, please submit ideas on GitHub on Reddit.
As of 8 AM today (May 25), the price of Dogecoin is $0.35,up 19 percent. The current market cap for the currency is $46.05 billion.
Bitcoin is at $38,157.38, up 8.62 percent. The current market cap for Bitcoin is $713.68 billion.
After a major decline in the value of most cryptocurrencies, the digital assets look more or less stable on Monday. Bitcoin was trading at $38,024.25 at 11.50 pm IST (on May 24). Meanwhile, the 24-hour high and low of the popular cryptocurrency was $38,727.73 and $32,306.09 respectively. On May 19, the popular cryptocurrency plunged to a low of $30,201.96. The market valuation of BTC was at $669.44 billion. On Monday, the value of Bitcoin is at $715.38 billion, according to Coindesk.