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Dogecoin VS Bitcoin
Tesla CEO Elon Musk said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners.
During an SEC filing last month, Tesla said it had purchased $1.5 billion in bitcoin and was preparing to accept it for payment.
However, Tesla halted bitcoin transactions in mid-May because it was worried about how mining cryptocurrency was affecting climate change.
Musk was responding to comments made by Magda Wierzycka, CEO of South African asset manager Sygnia, who said that Musk’s tweets about bitcoin prices were “market manipulation” and should have triggered an investigation by the U.S. SEC.
Musk’s comments on social media about crypto often send prices soaring but his recent tweets had little to no effect.
Meanwhile, bitcoin just got its first makeover in four years and is said to help the coin compete with Ethereum.
Miners around the world just approved the first bitcoin upgrade in four years.
It’s called Taproot and is scheduled for release in November.
As a result, more transactions will be secure and efficient, and importantly, smart contracts will be enabled through blockchain technology, which eliminates middlemen in even the most complex transactions.