Tesla CEO Elon Musk has revealed for the first time that his firm SpaceX owns Bitcoin (BTC). The company is yet to officially announce how much Bitcoin it has purchased, however, Musk’s other company, Tesla, purchased $1.5 billion of the cryptocurrency earlier this year, which sparked a major Bitcoin price rally. That rally came to an abrupt end after Tesla stopped taking Bitcoin payments due to environmental concerns, but speaking at “The ₿ Word” — a virtual event dedicated to Bitcoin — the erratic tech billionaire suggested Tesla was on the verge of accepting the cryptocurrency again following promising signs …

Tesla CEO Elon Musk has hinted that the crypto industry is on its way toward greener future, but Tesla won’t be accepting Bitcoin payments just yet. Speaking at "The ₿ Word," a virtual Bitcoin (BTC) event, with Twitter CEO Jack Dorsey, Ark Invest’s Cathie Wood and moderator Steve Lee from Square Crypto, Musk said that Tesla would “most likely” consider resuming crypto payments for its vehicles — a policy the CEO said the company would be stopping in May — but said he needed to exercise diligence before making a decision. “There appears to be a positive trend in the …

Popular male grooming product manufacturer Axe is set to launch a limited run of Dogecoin-themed body spray dubbed “Dogecan.” Axe’s Dogecans will be given out for free, with consumers encouraged to register on the firm’s website for a chance to receive a can. However, the marketing campaign appears to be unavailable to Dogecoin (DOGE) fanatics outside of the United States. vibes for tm #dogecan 07.20.21 pic.twitter.com/KjgKn4K6Wx — AXE (@AXE) July 19, 2021 The company has already sent out early samples to popular Dogecoin personalities, including Dogecoin co-founder Billy Markus, popular Twitter account Dogecoin Rise, and musician and DOGE proponent Lil …

Trading volume for Dogecoin (DOGE) increased by more than 13 times during the second quarter of 2021, nearly tagging $1 billion daily. According to data compiled by Coinbase and reported by Business Insider, Dogecoin trading volumes soared 1,250% between April and June, with $995 million worth of DOGE changing hands daily on average during the quarter. By comparison, Dogecoin’s average daily volume for the first quarter was $74 million. Dogecoin started the year priced at just $0.004 and saw its first uptick in early February when prices jumped 50% when Tesla CEO Elon Musk embarked on his Twitter-shilling campaign in …

Market analysts are arguing that Tesla’s exposure to Bitcoin (BTC) may be the reason for its sharp decorrelation from Big Tech in recent weeks. As of Wednesday, July 14, the 20-day correlation between the company’s price and the Nasdaq 100 index has dropped from 0.83 on June 17 down to 0.14. Whereas Tesla has shed almost 4% this month, the Nasdaq 100 is up by over 2%. A weakened correlation between Tesla shares and the NYSE FANG+ index is also observable, as BNN Bloomberg reported. Amy Wu Silverman, a derivatives strategist at RBC Capital Markets, told reporters: “Tesla is highly …

On July 8, Max Keiser and Stacy Herbert hosted an Elon Musk-inspired show in Austin, Texas. Aptly named “F*ck Elon,” the event, which included a large number of Bitcoin (BTC) maximalists, was surely a rowdy affair. Keiser is known for many things, but restraint is not necessarily one of them. Although we can debate the merits of such a provocatively titled party, Musk’s divisiveness is certainly not up for debate. Earlier this year, the Bitcoin community — including the maximalists — were vocal supporters of Musk. He saw value in Bitcoin and Bitcoin saw value in Musk, one of the …

Dogecoin (DOGE) may need a new marketing strategy after the latest publicity stunt from Elon Musk moved its price by less than 8%. In a tweet on Thursday, “Dogefather” Musk argued that Dogecoin could do a better job at payments than Bitcoin (BTC) or Ether (ETH). Musk: BTC, ETH “slow” with high fees The latest in a long line of plugs, the Tesla and SpaceX CEO was responding to crypto YouTuber Matt Wallace, who revealed excitement about an upcoming protocol upgrade. “BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost …

Bitcoin’s total estimated annual electricity consumption has plummeted nearly 60%, falling from the all-time peak above 143 terawatt-hours (TWh) in May to as low as 62 TWh in early July, according to data from Cambridge Bitcoin Electricity Consumption Index (CBECI). This is the lowest energy consumption rate recorded since early November 2020. At the time of writing, Bitcoin’s annualized electricity consumption is estimated at 67 TWh, while the upper bound consumption, or the absolute maximum total electricity expenditure based on the worst case assumption, stands at 162 TWh, down from 520 TWh in mid-May. The lower bound estimate, which corresponds …

Bitcoin’s (BTC) second-quarter price battering has pundits speculating that Tesla may have to report a loss of up to $100 million for Q2. With the price of Bitcoin recently dropping to revisit levels last seen in January, CNBC business analyst Kate Rooney asserted on Tuesday that Tesla may face an “impairment charge” — requiring it to report the drawdown in a disclosure to the United States Securities and Exchange Commission. She noted that as Tesla first disclosed its $1.5 billion in Bitcoin purchases in February, and onlookers believe the electric vehicle manufacturer may have been underwater at the end of …

According to publicly available data from the University of Cambridge Centre for Alternative Finance and the International Energy Agency, or IEA, bitcoin (BTC) carbon emission intensity may have already peaked. The environmental impact of bitcoin's electricity usage is a favorite talking point of its critics and journalists on the crypto beat. But taking in the available data, Hass McCook, a retired chartered professional engineer, reckons bitcoin's carbon emissions "have already peaked a few months ago." McCook unpacked the data and defended that conclusion in a guest post on Bitcoin Magazine's website Friday: "From the above, it would appear that Bitcoin’s …

Elon Musk, the at-times controversial SpaceX founder and stop-and-go crypto supporter, voiced his support late Sunday for a set of major updates to the Dogecoin blockchain. The changes would drastically redesign the cryptocurrency’s software architecture and alter its tokenomics. The popular “joke crypto” appears to be gearing up to become a serious utility coin after a massive influx of capitalization earlier this year. It remains to be seen whether the updates Musk supports would be good or bad for the coin’s holders should they be adopted. In a Reddit thread Sunday, Dogecoin core developer Patrick Lodder summarized the proposed updates: …

Although the price of Bitcoin (BTC) continues to hover around $30,000, industry experts are noting that there is a bullish long-term view. To put this into perspective, Alex Mashinsky, chief executive officer and co-founder of Celsius – the centralized cryptocurrency lending platform – told Cointelegraph at Bitcoin 2021 in Miami that he sees Bitcoin reaching $160,000 this year, or possibly a bit lower. “We haven’t seen the highs yet for 2021,” Mashinsky said. Mashinsky further remarked that the crypto market was bound for a correction, following Bitcoin’s recent all-time high of over $63,000: “When you go too high, too fast, …