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Lionel Laurent

Elon Musk Conveniently Ignored Bitcoin's Inconvenient Truth

Where does the future of money end and the “hustle” begin?

He can’t have it both ways.

He can’t have it both ways.


When electric carmaker Tesla Inc. said in February it would buy $1.5 billion worth of Bitcoin and start accepting it as payment, billionaire boss Elon Musk had little to say about the cryptocurrency’s wasteful energy consumption — despite the obvious inconsistency with his firm’s green credentials.

And when fellow Bitcoin bulls Jack Dorsey and Cathie Wood last month backed a report claiming that combining cryptocurrency mining and renewable-energy projects could be good for the environment, Musk praised the paper as “true,” even though its optimistic and overconfident assumptions smacked of greenwashing.