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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 387.40+0.5%Dec 9 4:00 PM EST

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To: TobagoJack who wrote (171641)5/13/2021 8:26:36 PM
From: Julius Wong1 Recommendation  Read Replies (2) of 218312
 
Elon Musk: "I strongly believe in crypto"
May 13, 2021 5:35 PM ET Bitcoin USD (BTC-USD) By: Stephen Alpher, SA News Editor 183 Comments

The Tesla (NASDAQ: TSLA) chief is back at it on Twitter this evening: "To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal."

The comments seem to be behind a modest bounce in the price of Bitcoin ( BTC-USD), which has returned to just under $50K.

Maybe more interesting, Coinbase (NASDAQ: COIN) President and COO Emilie Choi - appearing on Bloomberg after the company's first public earnings release - talks about a number of misconceptions surrounding Bitcoin mining and energy usage. She notes 75%+ of miners use renewable energy to do their work. She suggests there's more to the Musk tweets than meets the eye.

Coinbase was initially down sharply following results, but is currently higher by 2.2% in after hours action.

Twenty-four hours ago, Musk sent Bitcoin plunging to as low as $45K w ith his announcement that Tesla would no longer be stacking sats.
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