Tesla & Musk Have Refocused The World From Crypto to Carbon May 27, 2021
In a spectacular two weeks for crypto assets, Tesla and Elon Musk have completely flipped the focus from digital currencies to carbon emissions. As Bitcoin experienced a decline of over 40% from its high on April 15
th to May 21
st, a more transparent and regulated alternative investment opportunity has stood out in stark contrast: carbon allowances.
On May 12
th, Tesla and its founder announced they would no longer accept bitcoin as payment for their vehicles, citing the massive amounts of energy required to store and mine digital assets and the detrimental effects that the resulting carbon emissions are having on the climate. Digital assets, which were already on shaky ground after Musk’s May 8