Tesla is charging up the crypto market once more. The EV-maker is teaming up with funds agency Block and others to mine bitcoin in Texas utilizing solar energy. Tesla will present the infrastructure and batteries.
Reuters crypto correspondent Tom Wilson:
“For the most part, bitcoin miners rely on fossil fuels such as coal for the energy that’s needed to create new bitcoin. That’s a real headache for investors, many of whom are a bit worried about being associated with an asset that they see as environmentally unfriendly or contributing to climate change.”
Meanwhile, bitcoin is perhaps turning right into a type of reserve forex for the crypto world. Seoul-based Terraform Labs and affiliate Luna Foundation Guard are increase a stash that would finally whole $10 billion. That’s to again a so-called “stablecoin”, which is supposed to be much less risky than some digital cash.
Such cash are often backed by greenback reserves, however Terraform reckons the world is prepared for a “bitcoin standard” – a digital replace for the “gold standard” that after underpinned worldwide finance.
And Honduras is the newest place to make bitcoin authorized tender. Or no less than cryptocurrencies will probably be accepted in a single vacationer hotspot. The particular financial zone there may even enable corporations and native governments to problem bitcoin bonds.
Back in September, neighboring El Salvador turned the primary nation to make bitcoin authorized tender.
