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Seeking Alpha 2021-05-13 00:39:13

Bitcoin plunges, crypto world erupts as Elon Musk questions energy usage

"Elon Musk reveals himself a scammer," is the title of a hotly-attended (roughly about 2K folks at pixel time) Clubhouse discussion taking place right now. Needless to say, the mood is salty.Earlier this evening, the Tesla chief tweeted that his company would no longer accept bitcoin (BTC-USD) as payment, calling bitcoin mining an enemy of the environment. Importantly, Musk said Tesla wouldn't be selling any of its bitcoin stash.Microstrategy (MSTR) CEO Michael Saylor weighs in with a response to Musk's tweet: "Ironic because no incremental energy is used in a #bitcoin transaction. The energy is used to secure the crypto-asset network, and the net impact on fossil fuel consumption over time will be negative, all things considered." Saylor's Microstrategy is the holder of more than 90K bitcoins.Curious to more folks than Saylor, Musk just three weeks ago was in agreement with Square's (SQ) Jack Dorsey who said Bitcoin would a

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