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Green energy tokens capitalize on Tesla’s decision to nix Bitcoin payments

Published 05/13/2021, 08:08 PM
Updated 05/13/2021, 09:40 PM
Green energy tokens capitalize on Tesla’s decision to nix Bitcoin payments

Green energy tokens capitalize on Tesla’s decision to nix Bitcoin payments

After months of touting the benefits of Bitcoin (BTC) and blockchain technology, Tesla (NASDAQ:TSLA) CEO Elon Musk shocked the crypto Twitter on May 12 by announcing that the electric car company would suspend its accepting BTC as a form of payment, citing concerns related to the energy required to mine the top cryptocurrency.

As Tesla issued its statement, Bitcoin, Ether and a large segment of altcoins sold off sharply but there were a few projects that found clever ways to capitalize off the mayhem by tweeting about the ‘green’ nature of their networks that require only a tiny fraction of the energy required to maintain the Bitcoin network.

HBAR/USDT vs. NANO/USDT vs. EWT/USDT 1-hour chart. Source: TradingView
NANO/USDT 4-hour chart. Source: TradingView

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