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Dear Elon Musk, We don’t want you or anyone in charge of Bitcoin


Elon Musk was busy this week talking Bitcoin and the reasons he has decided he no longer likes it, he wants it to change form to be more energy efficient as he somehow got it in his head Bitcoin was an environment killer.

The whole purpose of Bitcoin is that it is NOT controlled by some Billionaire, group of Billionaires or anyone, we do not want you in charge of Bitcoin Elon.

Bitcoin Mining Electricity Consumption

Maybe while Elon Musk is on his high horse he might want to shutdown the internet and as the worlds data centres are a much bigger consumer of electricity.

Here’s how the share of each energy type varies across four global regions.

Energy SourceAsia-PacificEuropeLatin America
and the Caribbean
North America
Natural gas38%33%17%44%

Asia Pacific hits directly on Elon’s buttons as it is mostly coal powered, but during his anti-Bitcoin gripe he did not mention that Tesla’s sales in China more than doubled last year to $6.66 billion.

Tesla began ramping up production last year at its factory in Shanghai and selling China-made cars to the local market. Tesla sold 95,125 cars in China over the first four months this year, Tesla China would be looking to build 550,000 cars in 2021.

All of them would be predominantly powered by Electricity produced by coal.

Elon Musk’s hypocrisy on this matter is outstanding, his attempt to be TechnoKing of Crypto will fail, Crypto will remain the land of the free.

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.