The Kraken exchange CEO Jesse Powell into the Elon Musk needs to delve Bitcoin mining and here’s how billionaires responded
In an interview with Bloomberg, Kraken CEO Jesse Powell suggested that Bitcoin is greener than critics say.
— Bloomberg TV (@BloombergTV) June 17, 2021
Tesla CEO has commented on Kraken CEO, in which Jesse Powell claims Bitcoin is greener than critics say it is
Debates regarding Bitcoin’s energy use particularly surged following a tweet sent out by Tesla CEO Elon Musk in May saying that his company would no longer accept Bitcoin payments due to the network’s increasingly rapid use of fossil fuels. Since then, a number of ways Bitcoin mining companies could go green have been discussed, many of which include using 100% renewable energy sources
And with the recent changes, as AZCoin News reported, BTC.TOP CEO, Jiang Zhuoer thinks that Bitcoin miners’ clean energy usage already exceeds 50%. And perhaps that is why Powell has suggested that Bitcoin is greener than critics say.
Before Powell’s statement, Musk responded on the Twitter assumption, asking on what sources this was based on and clearly doubting Powell’s statement.
Based on what data?
— Elon Musk, the 2nd (@elonmusk) June 17, 2021
Many have accused Elon of manipulating the Bitcoin price, as his single tweets were able to push the leading cryptocurrency up and down erratically.
And the story also starts with Kraken CEO saying that Musk should learn more about Bitcoin mining
During the interview, when talking about Bitcoin mining, Powell highlighted the impact of billionaire Elon Musk on the cryptocurrency industry.
“Elon has been studying this, but I think he’s got some more studying to do on this topic.”
When asked if there is anything else to replace Bitcoin, Powell noted that nothing can replace Bitcoin at the moment. Because what Musk calls not green enough, and whether he wants something greener instead, isn’t available right now.
In his view, some greener alternatives may appear in the future:
“Bitcoin is a lot greener than people give it credit for. It’s a way to bootstrap renewables. Therefore, Bitcoin is already “doing a lot actually for the renewable energy sector.”
“And, you know, I don’t know how long Elon has been studying this but, you know, I think he’s got some more studying to do on this topic.”
Powell also noted that despite the market slump, new subscribers have joined his trading platform, Kraken, this year. In his opinion, this is just the beginning of cryptocurrency mainstream adoption.
“Generally, we’re seeing way more people sign up this year than we have in any prior year. Actually, the first two months of the year blew away the numbers for the entirety of 2020.”
Furthermore, Powell noted that some people come to trades for fundamental reasons, understanding the real long-term impact of cryptocurrencies on the world, challenging and observing new technologies. At the same time, the enthusiasm of those who came only for the purpose of making a quick profit has decreased significantly. This is a metric conclusion. You can follow the FCA research here.
Powell has revealed that the crypto exchange could go public before the end of 2022. He stated that the move would be a natural progression for the company in its mission to bring crypto to the world.
“Kraken is currently doing prep work towards going public in the next 12 to 18 months.”
However, the exchange CEO did not give a target valuation for the upcoming float. Earlier, in early June, Kraken was reported to be revisiting previous plans in its pursuit to become a public company given the lackluster performance of Coinbase stock launch back in mid-April.
- Peter Schiff Has Agreed With Michael Saylor That Bitcoin Price Might Rally Up To 6.125% Annually In The Next 7 Years
- China Largest Stock Software Stopped Providing BTC Market Data In Response To Regulatory Requirements