Elon Musk and Bitcoin first!Bitcoin has soared again after a long time… | Author: Dwayne D’cunha | The Capital | June 2021
Elon Musk is known for his random tweets that sparked “interesting” conversations in the community, but people have accepted that he has generated considerable influence through tweets. Although they seemed innocent, they turned out to be very destructive.
Cointelegraph’s recent tweet criticized Elon’s influence on Sygnia CEO Magda Wierzycka. His response to this tweet defended the allegation, saying that Tesla liquidated 10% of its BTC to show that it can be liquidated without much impact on Bitcoin. He also hinted that if Bitcoin mining confirms the use of 50% renewable energy, Tesla will resume trading through BTC. Other crypto enthusiasts refuted this claim, claiming that Bitcoin already uses 70% of renewable energy. These enthusiasts also believe that once Bitcoin is officially accepted globally, it will not succumb to the wishes of celebrities such as Elon Musk.
Places like Africa have begun to adopt digital currencies, especially in Nigeria, South Africa and Kenya. One of the main reasons is that the price of remittances in Africa requires a lot of money, which is not a problem for cryptocurrencies that charge the lowest fees. Although cryptocurrency is not legal tender in Africa, it does not seem to be far away. The economic damage caused by the Covid crisis and where cryptocurrencies have proven their worth.
Burger King, a well-known fast food chain in Venezuela, has recently started accepting Bitcoin payments. Cryptobuyer, a platform that assists in the conversion of cryptocurrencies into fiat currencies, supports this new decision. Yum Brands, a large company operating chain stores such as KFC, Pizza Hut and Taco Bell, has come to a similar conclusion after witnessing the value of cryptocurrencies.