, Columnist
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.
Photographer: ERIC PIERMONT/AFPThis article is for subscribers only.
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.