Bitcoin flies, lifted by Tanzania and Musk
Today is a good day for Bitcoin, but only for that, with values that have returned to around $ 39,000 with also interesting transaction volumes:
What moved the market in this direction. Everyone points to Musk, but I sincerely hope that it wasn't just him, but that there were other, more serious and structural factors.
Let's start with Musk. Responding to a provocation by Cointelegraph, the entrepreneur stated that:
- Tesla sold only about 10% of its Bitcoins;
- Which, however, will return to accept BTC in the event that at least 50% is processed with green, sustainable energy.
This is inaccurate. Tesla only sold ~ 10% of holdings to confirm BTC could be liquidated easily without moving market.
When there's confirmation of reasonable (~ 50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
– Elon Musk (@elonmusk) June 13, 2021
Above all, the news of not having intervened on the market and not wanting to sell was seen as positive. As for BTC's "Green" technology, the gradual disengagement from China will allow, if nothing else, to diversify energy sources, without considering the possibility of using endothermic energy in El Salvador.
Fortunately, however, not everyone is based on Elon Musk, or at least I hope so!
Bitcoin also received a big boost after Tanzania's President S amia Suluhu urged the country to prepare to adopt the use of cryptocurrency.
His speech in Mwanza on Sunday came just days after El Salvador announced it had adopted Bitcoin as legal tender. A number of nations in South and Central America have also signaled their willingness to officially adopt the use of Bitcoin.
President Suluhu called on his country's financial leaders to prepare for virtual currencies, saying the era of cryptocurrencies and blockchain is dawning, while urging his country to open up to change. He said the central bank of Tanzania should begin the necessary preparations to adopt global attitudes towards the banking sector, identifying cryptocurrencies as the future of finance. This move in Africa would be truly disruptive as it would make it possible to overcome one of the main constraints on the continent's development, linked to the inefficiencies and very high costs of its financial system.
This is great news in perspective.
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The Bitcoin article flies, raised by Tanzania and Musk comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/bitcoin-vola-sollevato-da-tanzania-ed-musk/ on Mon, 14 Jun 2021 12:56:06 +0000.