Elon Musk said that $BTC, the top cryptocurrency, now uses cleaner energy than before, citing the crypto mining crackdown in China.

Elon Musk Says $BTC is Uses More Clean Energy, Citing China’s Crackdown
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GRUENHEIDE, GERMANY - SEPTEMBER 03: Tesla head Elon Musk talks to the press as he arrives to to have a look at the construction site of the new Tesla Gigafactory near Berlin on September 03, 2020 near Gruenheide, Germany. Musk is currently in Germany where he met with vaccine maker CureVac on Tuesday, with which Tesla has a cooperation to build devices for producing RNA vaccines, as well as German Economy Minister Peter Altmaier yesterday.

The Tesla and SpaceX CEO said it as he attended a Bitcoin forum joined by Ark Invest CEO Cathie Wood, Twitter CEO Jack Dorsey, and Square Crypto's Steve Lee, who served as the moderator.

Musk's electric vehicle giant owns the top crypto, as most of you may have known already. It once accepted the digital token as a form of payment, which began in February. It came alongside the purchase of a whopping $1.5 million Bitcoin, according to TechCrunch.

However, the billionaire halted $BTC payments, citing environmental concerns due to its coal-powered mining.

Elon Musk, later on, stated that his company will only use the leading crypto again when mining starts to comprise 50% clean energy.

Elon Musk: $BTC Uses More Clean Energy

This time around, the billionaire appeared on the virtual Bitcoin discussion, donning a t-shirt that flaunted a $BTC theme. As per CoinTelegraph, he also went on to admit in the talk that he personally owns "much more Bitcoin than Ether or DOGE."

Musk further said that BTC's renewable energy use for its mining is increasing, which he attributed to the crypto crackdown in China wherein coal-powered facilities have been shut down. The billionaire also noted that the current bulk of green mining is "most likely at or above 50%," adding that it is predictably going to increase.

The Tesla CEO further went on to tease that if Bitcoin continues to go greener, his EV company will revert to using it for payment processes.

Read Also: Crypto Whale Spotted Buying 30,000 Coins Adding to Wealth of 144,000 Coins Across 18 Wallets | Opportunity to Buy at 9% Down? 

Nic Carter and $BTC Green Mining

Meanwhile, Coin Metric co-founder, Nic Carter, spoke to CNBC after Musk's pronouncements about the top crypto, echoing the Tesla boss that the China crackdown helped make $BTC mining cleaner.

He further noted that mining in the Asian country primarily uses coal energy. Not to mention that the illegal miners in China lacked transparency that will make sure that it is clean powered. As such, their shutdown helped lessen mining, which does not use clean power.

Carter also revealed that the shutdown of mining facilities in China turned to other locations, such as Canada and the United States, wherein sustainability has become a priority.

Related Article: Elon Musk Reveals Tesla Bank Account in Europe has Negative Interest Rates | Real-Time Drop While CEO Imagines Crypto

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Written by Teejay Boris

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