Have you considered buying the dip?
Popular cryptocurrency guru and CEO of Tesla Elon Musk has just announced that his company will resume accepting Bitcoin as payment for Tesla vehicles once crypto miners adopt a “reasonable” method of using clean energy to mine bitcoins.
Musk contributed to Bitcoins crash in may by saying, “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
After major blowback from crypto investors Musk reversed course and said “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions.”
At it’s peak, bitcoin reached ~$64,000 before crashing down to monumental low of ~$33,000 and is now sitting at around ~$40,000 at the time of writing this article.
So will you invest in the highly volatile world of cryptocurrencies? Share your thoughts in the comments below…