What can anyone write about in terms of blockchain or crypto that is not already all over the web? - I think I have an answer - here we go...Elon Musk who happens to have the best current answer to the non-carbon energy problem has announced Tesla will hold BTC on it's balance sheet (we have all heard the figures). The one issue or weakness that I see with Bitcoin is the insane energy consumption in the current usage scenario (I have heard analogies that suggest BTC uses as much energy as Switzerland). As the world adopts BTC it will consume more and more energy which could cause a significant issue; but wait...enter our hero, Elon Musk, who has developed significant solar technology and can likely be useful in providing a solution to the significant energy required for the BTC ecosystem to operate. That combined with the likelihood of other Fortune 500 companies following Tesla (this is speculative on my part of course) means that Tesla is poised to benefit from any rise in value from BTC - and may benefit if their team can create an eloquent solution to the BTC power consumption issue. In terms of institutional adoption, whether institutions are "following" Mr. Musk or not, they are making noteworthy investments in BTC, which increases the size of the ecosystem. Being towards the front of the line in terms of institutional adopters, Tesla is brilliantly positioned to both increase the need for a BTC energy solution by bringing BTC closer to the mainstream - and to lead the pack in the effort to provide the solution. This either makes Elon Musk a super genius...or a top 5% genius with a little luck and/or fate on his side.
A Potential Industry Juggernaut in the Making and the Incredible Mr. Musk
By carrywater | carrywater | 14 Apr 2021
We read - we write - we try - we grow
General interest in the crypto space and very interested in the implications of international adoption of blockchain as one of the most significant advancements in technology in several generations.
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