Elon Musk and Tesla Move Away From Bitcoin...
Lew Later
Quickscope Media
4.8 • 1.9K Ratings
🗓️ 13 May 2021
⏱️ 48 minutes
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| 0:00.0 | Yeah, it's a big one. It's a big one today. It's this came out of left field. We're ready |
| 0:15.2 | to film late night session. And then all of a sudden his news breaks. Tweet comes out |
| 0:21.6 | even on musk. And you know it's going to have an impact. And you know people are going |
| 0:27.2 | to respond. People already started to respond. I'm checking what's going on in crypto markets. |
| 0:33.6 | Tesla and Bitcoin called it quits for now. This tweet, look at the way to tweet is configured. |
| 0:42.1 | One of these screenshots, one of these bunch of text not even written out because you can't |
| 0:47.7 | fit it. Tesla has suspended vehicle purchases using Bitcoin. We are concerned about we we we we |
| 0:53.2 | are concerned. You see that's a committee meeting. We are concerned about rapidly increasing |
| 0:57.6 | use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst |
| 1:02.5 | emissions of any fuel. Cryptocurrency is a good idea on many levels. And we believe it has a |
| 1:06.0 | promising future. But this cannot come at great cost to the environment. Tesla will not be |
| 1:10.7 | selling any Bitcoin. And we intend to use it for transactions as soon as mining transitions |
| 1:15.6 | to more sustainable energy. We're also looking at other cryptocurrencies that use less than one |
| 1:21.2 | percent of Bitcoin's energy per transaction. That was impressive. 49 days is the amount of time |
| 1:31.2 | that Bitcoin was active on Tesla's website as an option for purchase. You and I talked about |
| 1:38.4 | the difficulty in accepting crypto, the fluctuation, the volatility. Here you had this stable, |
| 1:44.8 | the most stable outside the stuff that's pinned to the currency. The most stable stuff was |
| 1:51.2 | locked. It was heavy. I mean, maybe outside of a theory of moving in the upwards direction, |
| 1:58.0 | big time big time stuff. And for a guy with his level of influence, for a guy who's been so |
| 2:05.2 | about the adoption of this thing to post that publicly, the implications are huge here. |
| 2:14.4 | This could be the transition away. Now, I have to say right at this moment and by transition, |
| 2:20.0 | I mean transition from Bitcoin to other crypto. Now, I know he's just one person, but he also |
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