Just as I predicted, Elon Musk has shown his grand playbook: more money for his empire. Today, he wrote “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.” Note the word “renewable”.
On May 13 when he tobacco-lized Bitcoin, making it suddenly dirty due to the mining process, I wrote this: ” The chief evangelist of the company, Elon Musk, cited the “rapidly increasing use of fossil fuels” for mining and transactions, and the cryptocurrency plunged. Now, Elon has just seeded another business for his empire: mining Bitcoin with renewable energy. Watch out, in the next coming months, SolarCity, his partly renewable energy business, will have things for that market need.
Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.
— Elon Musk (@elonmusk) May 24, 2021
“Why not? If holding Bitcoin is going to be tobacco-lized – yes, extremely dangerous and immoral because of fossil-based mining – the only solution would be buying SolarCity CoinMiner [I made that up]. And that is another perception demand opportunity for his generation’s finest innovator. Tesla will resume buying the coin if the mining process becomes cleaner.”
Good People, expect SolarCity to get a huge part of this bitcoin business because it is one of the largest renewable energy companies in America. Musk, we understand your playbook! I knew it was all about making SolarCity relevant again!
With this Musk revelation, SolarCity has a clear double play strategy, and it is a very significant one if the company can capture most of the opportunities. Of course, it is not a bad thing to move Bitcoin mining to the renewable space. What was confusing was the impulsive tobacco-lization of the crypto after years of buying and trading on it.---
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