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Seeking Alpha 2021-06-28 16:58:23

China's Good Riddance Is How Bitcoin Will Win Elon Musk Back Over

Elon Musk was a proponent of Bitcoin and then wasn't after saying its mining operations are not green enough.The majority of non-green energy from the Bitcoin network comes from China, using as much as 40% coal to power its operations.Despite itself, China has given Bitcoin longs the victory by shutting down 90% of its mining capacity.This grants bulls two tailwinds: Musk back on their side and an abatement of the fear China controls most of the network.

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