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Elon Musk Says He Spoke With 'North American BTC Miners' About Sustainability

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Elon Musk Says He Spoke With 'North American BTC Miners' About Sustainability

Elon Musk fired off another ambiguous tweet about BTC today, sending the price up about $2,000.

“Spoke with North American BTC miners,” Musk wrote at 3:42 pm Eastern. “They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”

As with all of Musk’s tweets, it had an immediate and significant effect on the crypto markets—by 3:57pm, the price of BTC had shot from around $38,000 to over $40,000.

Michael Saylor—the CEO of the software company MicroStrategy and a devout BTC advocate—said he led a meeting yesterday with Musk and BTC mining companies, such as Argo and Hut 8. He also said these miners “have agreed to form the BTC Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide,” though it’s yet unclear what that means exactly.

Peter Wall, the CEO of Argo, confirmed that Argo has joined the newly formed “BTC Mining Council.”

Tesla put $1.5 billion in BTC on its balance sheet back in February and said it would start accepting BTC as payment for its cars. Earlier this month, Musk announced Tesla would no longer accept BTC due to environmental concerns.

Whether Saylor’s “BTC Mining Council” can do anything about BTC’s climate impact remains to be seen. But it’s evidently already having on impact on Musk—and the BTC market as a result.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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