Kimbal Musk says that he is violently against anything that affects the environment to that degree while talking about cryptocurrency. This shows his take on crypto is the total opposite of his brother, Elon Musk. He is one of the few well-known personalities who has spoken in favor of crypto time and again. His beliefs and tweets have also affected the crypto markets quite a bit.
Kimbal Musk on crypto
Kimbal Musk has explained the reasons why he stands against cryptocurrencies with such a steep stance. He says that the environmental crisis must be fixed. To some extent, this is true as well. Bitcoin mining is really energy-intensive, and it is estimated that to mine a single Bitcoin, almost 2,292.5 KW electricity is used. For some context, the same can be used to run a typical US house for 80 days. Now, if you see it in this regard, yes, BTC is taking up too much power.
It also became the reason that Tesla, which once started to accept BTC as a payment medium, stopped doing so. Elon said that once Bitcoin’s mining reaches a point where it uses 50% or more renewable energy, Tesla will start accepting it again. And a few months back, a report came saying that around 46% of BTC mining is now using renewable resources of energy.
In fact, Kimbal also said that Tesla was initially ignorant of the impact that Bitcoin is having on the environment. And considering there is an EV company whose sole job is to promote green vehicles, it doesn’t make sense to accept BTC as a payment medium. All this shows one thing, Kimbal is not against the idea of crypto but just its environmental impact. In case the problems can be mitigated like in Ethereum 2.0, he has no problems with it.
About Kimbal Musk
Kimbal Reeve Musk (born September 20, 1972) is a restaurant owner, chef, and entrepreneur from South Africa. He runs “The Kitchen Restaurant Group,” which operates “community” restaurants in Colorado, Chicago, and Indianapolis. Kimbal is the co-founder and chairman of Big Green, a nonprofit organization that has built hundreds of “Learning Gardens” in schoolyards across the United States. He is also a Tesla and SpaceX stakeholder and is on their board of directors.
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