Tesla admitted his mistake of investing in Bitcoin. The manufacturer was not aware of the ecological impact of cryptocurrency.
A year ago, Tesla invested in Bitcoin by buying the equivalent of $1.5 billion worth of cryptocurrency. At the time, the brand also temporarily accepted transactions in cryptocurrency. The reception had been icy, given the environmental impact linked to the mining of Bitcoin. Twelve months later, it was Elon Musk’s brother, Kimbal, who recognized that Tesla had underestimated this impact.
“When we invested in Bitcoin, we were really ignorant”Kimbal Musk told TechCrunch. “We had no idea of its environmental impact. We literally didn’t know, we thought it was a good monetary investment and a good way to diversify our assets. »
Musk confirms that it was popular pressure that made Tesla realize his mistake. “It didn’t take long to have a million posts telling us what we were doing to the environment. » If he declared “don’t regret” this purchase, he understands the dissonance with Tesla’s goals. The firm halted bitcoin payments, but kept its cryptocurrency assets, which are now worth nearly $2 billion.