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2021-06-14 15:22:57 Tesla to Resume Bitcoin Transactions if Clean Energy Goals are Met

Shao H. Wang | Jun 13, 2021 at 20:00 UTC

Nothing gets Elon Musk riled up like criticism of his soft weak hands. Amidst rumors that Tesla had further reduced its exposure to Bitcoin, Musk took to Twitter to deny selling at the peak. He reiterated a positive stance on the cryptocurrency, stating that Tesla would resume acceptance of bitcoin for vehicle purchases if miners confirm “reasonable (~50%) clean energy usage”.

Previously, Tesla purchased $1.5 billion worth of bitcoin in late January and early February, when the per-bitcoin price was around $34,000. Elon Musk maintains that Tesla has only sold approximately 10% of that initial purchase, which was first reported during Tesla’s quarterly earnings call in April. At the time, Musk claimed that Tesla performed the sale in order to prove “liquidity of Bitcoin as an alternative to holding cash on balance sheet.” However, the transaction resulted in a $101 million accounting boost for the company’s quarterly earnings. Without the bitcoin profit, Tesla’s adjusted earnings per share would have fallen far short of Wall Street estimates.

Musk's announcement that Tesla will accept bitcoin payments conditional on miners' clean energy usage may be another opportunistic play. Aside from Bitcoin, the majority of the company's income derives from the sale of carbon credits. Last quarter, emissions credits accounted for $518 million in revenue out of a pretax income of $533 million. Most of these credits are sold to other auto manufacturers to meet emissions mandates, but maybe the newly formed Bitcoin Mining Council will become Tesla's biggest customer. Open / Comment

2021-06-07 21:48:02 Open / Comment

2021-06-07 21:47:24 ​​Bitcoin 2021 conference Miami: Here’s what you missed so far.

We've rounded up a few notable moments from the first day of the Bitcoin 2021 conference in Miami, Florida.

The first official day of the Bitcoin 2021 conference in Miami, Florida yielded no shortage of newsworthy events. Thousands of conference-goers came together to take in speeches, interviews and panels from a wide array of guests, such as Miami mayor Francis Suarez, who spoke about the city’s efforts “to create the Bitcoin, blockchain and mining capital of the world.” Suarez’s track record is filled with various forms of involvement in the crypto and blockchain space, as he noted in his speech.

“The days of a currency being tethered to a central bank are coming to an end,” Suarez said after expressing several favorable views about Bitcoin, including: “The U.S. will become a powerhouse for clean energy Bitcoin mining.”

Other speakers, panelists and interviewees included Kraken head of growth Dan Held, MicroStrategy CEO Michael Saylor and Draper Fisher Jurvetson founder Tim Draper, among many others. Peter McCormack, the host of the What Bitcoin Did podcast, maintained one of the conference stages for some of the day’s action, introducing guests.

During Michael Saylor’s time on stage, he was asked about his experience in the crypto space so far. “I realized that I first bought Bitcoin one year ago yesterday, and so this is the end of my rookie year,” Saylor said.

Twitter CEO Jack Dorsey also spoke at the conference today on the topic of the bankless population. “Internet needs a native currency,” he said during his interview. “We need to be able to transact with it every single day.”

During a later on-stage discussion, Binance US CEO Brian Brooks said: “If you’ve never worked in a big bank, you have no idea how bad the problem is.” Brooks previously served with the United States Office of the Comptroller of the Currency. Before joining the regulatory body, he had several career stops, including spending years with OneWest Bank N.A. Open / Comment

2021-06-04 04:59:57 $GAX is fully tracked and live on CoinMarketCap! Add us to your watchlist! https://coinmarketcap.com/currencies/getart/ Open / Comment

2021-06-04 04:59:56 Open / Comment

2021-06-01 21:22:46 Our threshold for #Bitcoin Long-Term Holders are coins dormant for > 5-months.

At current prices, LTHs who accumulated in late-Dec to early-Jan are approaching their cost basis.

This will test the conviction of the market. Open / Comment

2021-06-01 20:02:27 Starting today, you can use your Coinbase Card with Apple Pay and Google Pay to maximize rewards and use crypto in your everyday life. Open / Comment

2021-06-01 18:40:52 Whether if June2021 is another version of July2013 ?

There were a lot of fluctuation and closed as a small green ?

Summer is time for BTC consolidation ? Open / Comment

2021-06-01 02:03:55 Sheetz has become the first U.S. convenience store chain to accept #Bitcoin as payment.

With 622 stores, the mid-Atlantic convenience chain will begin allowing customers to pay for items inside the store or at the gas pump using #bitcoin Open / Comment

2021-05-31 20:00:18 Central Bank of India making it clear that #Bitcoin and exchanges are not banned in new memo Open / Comment