Green energy tokens capitalize on Tesla’s decision to nix Bitcoin payments
After months of touting the benefits of (BTC) and blockchain technology, Tesla (NASDAQ:) 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.
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