In response to the energy use claims by Elon Musk, crypto investor and advocate Peter McCormack shared a Twitter thread explaininyg wh he considers that Elon Musk is uninformed in many Bitcoin-related aspects.
The upcoming Taproot Bitcoin upgrade was proposed to enhance the network scripting capabilities and also the privacy aspect.
Galaxy Digital estimated that Bitcoin’s total annual electricity consumption is 133.89 TWh/yr.
Whiles Mr. Kiyosaki’s opinions have been met with diverse reactions, the United States Labor Department has announced that the Inflation rate in the country has shot up the fastest rate since 2008
The price of ICP is down. While Bitcoin is leading the market correction, the top altcoins including Ethereum (ETH) have also been dragged into the nosediving market.
As for the exact market capitalization, Bitcoin has tanked from over $1 trillion a few weeks ago to around $840 billion.
The recent Bitcoin losses began after Elon Musk shows concern about the coin’s environmental impact.
Elon Musk’s tweets send ripple across the crypto market, with the overall crypto market cap taking a dip under $2 trillion before recovering once again.
There is also a speculation that Elon Musk has been involved in the classic pump and dump scheme of Bitcoin.
The Proof-of-Stake Cardano surged 18% today smashing past $2 for the first time and hitting its new all-time high. Cardano co-founder Charles Hoskinson said it is 1.6 million times more energy-efficient than Bitcoin.
Mike Novogratz acknowledged that his total holdings in crypto now represent as much as 85% of his net worth.
Digital assets currently hosted on the Singapore-based bank’s digital asset exchange are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP.
Users of Samsung Galaxy smartphones can now connect their devices to hardware wallets including the Ledger Nano S and Ledger Nano X.
MicroStrategy filed a Form 8-k with the United States Securities and Exchange Commission regarding the 271 Bitcoin purchase on May 13, 2021.
Despite the significant losses, McGlone believes that BTC is positioned for further price gains.