The Elon Musk relationship with Bitcoin took a tour in May 2021 when he said that Tesla would no longer accept cryptocurrency for vehicle purchases due to environmental concerns.
His announcement occurred only a few months after Tesla began to accept Bitcoin, stressing the volatility of the company’s position. Few has changed since.
Musk’s decision underlined the growing control of the SVG .cwp-co-Chart {the width of the stroke: 0.65! IMPORTANT; }
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Energy consumption, in particular its dependence on fossil fuels. Despite the suspension, Tesla has retained its Bitcoin farms, but will Tesla seek to adopt other cryptocurrencies?
Here are who are likely to be.
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Elon Musk on Cardano, the academic blockchain
In 2021, when Musk called Bitcoin, Cardano exceeded his top of $ 3.00 previous, marking an important step for cryptocurrency. Now about $ 0.68, Cardano was once considered a slow project, but its school approach and focus on underdeveloped regions like Africa now pays dividends.
Elon Musk, leader of the government’s ministry for efficiency, has shown interest in taking advantage of blockchain technology to improve transparency and efficiency. Cardano’s scalability and energy efficiency make it a solid candidate for such initiatives.
Breaking: Charles believes @elonmusk will talk about #Cardano in the future
– Alpha leader (@leaderalphanews) February 19, 2025
Breaking: Charles believes 
Charles Hoskinson, founder of Cardano, expressed his optimism about this potential collaboration, declaring that Cardano would be ready to support government operations if it is called.
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The most successful blockchain: Ethereum
The advantage of the first Ethereum engine compared to intelligent contracts allowed him to develop the most successful blockchain on the planet. While Bitcoin does something very good, although better than any other cryptocurrency, Ethereum is trying to do 12 incredible things that Bitcoin can never dream like Defi, Daos and proof of stake.
In addition, the founder of the Eth Vitalik Buterin voiced Its disgust for Bitcoin bitcoin extraction operations: “Bitcoin exploitation is a huge waste of resources, even if you do not believe that pollution and carbon dioxide are a problem”, “ Buterin said Spectrum ieee.
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Currently, Musk has made no public declaration concerning Ethereum in 2024 or 2025. Although he has already mentioned the possession of Ethereum alongside Bitcoin and Dogecoin, there was no recent comments or approval of him on Ethereum.
Elon Musk: Bitcoin is always a strong competitor
In a interview with CNBC, The founder of Morgan Creek Digital, Anthony “Pomp” poses, has made an excellent point: paying attention to what people do, not what they say.
Elon Musk is long billion dollars in Bitcoin. He does not sell, despite the massive benefits of Bitcoin in 2021.
Pomp also tweeted that 75% of Bitcoin extraction takes place using renewable energy. Admittedly, Bitcoin has made progress to become greener, but as the price of bitcoin increases, its energy expenditure.
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Key dishes to remember
- Elon Musk has not changed his position on Bitcoin. Since 2021, the CEO of Tesla has argued that the company suspend the purchases of cars using Bitcoin.
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Charles Hoskinson, founder of Cardano, expressed his optimism about this potential collaboration.
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For the moment, the debate on the place of cryptocurrency in the American financial future has only just begun.
Elon Musk’s big problem with Bitcoin and Crypto he prefers appeared first on 99Bitcoins.
