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Bitcoin dips below $50,000 as Musk calls energy usage 'insane' | Climate News

“Bitcoin is also a manifestation of the value of the internet, and hence it stands to reason that social media and the cult of celebrity has, and will continue to have, an effect on driving demand,” said Stephen Kelso, head of markets at ITI Capital.
Mining the token consumes 66 times more electricity than it did back in late 2015, according to a recent Citigroup Inc. report.
Musk signaled on Wednesday that Tesla might accept other cryptocurrencies if they are less energy intensive, and said the company won’t sell any of its Bitcoin.
It’s unclear what prompted the decision and Musk and Zachary Kirkhorn, Tesla’s chief financial officer, didn’t immediately respond to an email inquiry for comment. Kirkhorn in March added the tongue-in-cheek title “Master of Coin,” according to a regulatory filing. ....

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elon musk: Bitcoin falls below $50,000 as Musk calls energy use 'insane'

Musk posted a chart on Twitter from the University of Cambridge showing Bitcoins electricity consumption has skyrocketed this year. ....

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Coinbase hits $100bn in stock market debut

Coinbase hits $100bn in stock market debut
thecommentator.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecommentator.com Daily Mail and Mail on Sunday newspapers.

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Basking in the Coinbase IPO glow, all-time highs litter the boards

Basking in the Coinbase IPO glow, all-time highs litter the boards
Crypto at a glance
It’s a sea of green today as the Good Ship Cryptocurrency sails on the crest of a wave of all-time highs.
It’s Cheech and Chong time for the crypto markets. The fuse has been lit and we are at the show. Where will it go? Nobody knows.
With Coinbase’s direct listing on Nasdaq kicking off today, almost every coin under the sun is bathing in the warm glow of the notorious ‘Coinbase effect’ – the price bump a coin experiences when it first gets added to the leading US exchange. ....

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Bitcoin could reach $400,000 this year, say industry analysts

Bitcoin could reach $400,000 this year, say industry analysts
Bloomberg analysts expect Bitcoin to rise to $400,000 this year, based upon statistical modelling data, industry experts say that Bitcoin is now better at being gold, than gold
Key analysts at financial publisher Bloomberg have become the latest to predict a surge for bitcoin with an in-depth report proposing that the cryptocurrency could hit a valuation of around $400,000 (£290,000) this year.
The Bloomberg report is based on statistical modelling of recent data compared to previous bull market runs, suggests the digital currency is on a similar path to 2013 when it surged by 55 times, and 2017 where its value shot up 17-fold on previous levels. ....

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