Tesla’s Bitcoin Reversal Could Be Game Changer for BTC

Fundstrat Global Advisors’ managing partner Tom Lee believes that Tesla’s abrupt suspension of Bitcoin payments over possible environmental concerns could be a blessing in disguise for Bitcoin.

Episode Transcript

(00:00):
Tesla's Bitcoin of reversal could be agame changer for bitcoin. Next on your
four minute Bitcoin Today's Shows from apost by the Daily Hoddle staff and brought
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(00:24):
Fundstrapped Global Advisors Managing partner Tomi Leebelieves that Tesla's abrupt suspension of bitcoin payments
over possible environmental concerns could be ablessing in disguise for bitcoin. In an
interview, the research firm executive arguesthat the development could make bitcoin friendlier to
the environment as the industry seeks solutionsto bitcoins possible shortcomings highlighted by Tesla.

(00:49):
He says he doesn't think it's goingto get people negative on bitcoin, but
that it's going to get people tofocus on the possible problems that are being
created by digital assets. It isprobably better, Lee says, to view
it as a call to action forthe bitcoin industry for them to focus on.
Renewables are more efficient ways to provideproof of work. Many people think

(01:11):
they already do use renewables and avery efficient way to provide proof of work.
In last week's announcement, though testsWill express concerns over the surging use
of fossil fuels for bitcoin mining andtransactions, and stated that tessa wa will
not be selling any of their bitcoinand intend to use bitcoin for transactions as

(01:32):
soon as mining transitions to more substainableenergy, which they're already doing now.
Despite bitcoin losing about thirty percent ofits value since tessa halted its used as
a means of payment, Lee hasupgraded bitcoin's price target by twenty five percent
from his initial forecast of one hundredthousand dollars. The Fundstrat managing partner and

(01:57):
head of research now expects bit cointo hit one hundred and twenty five thousand
dollars by the clothes of twenty twentyone. Now, Lee has been wrong
many times on many things. Sowhat do you think about this entire energy
flood he's talking about? Will itbe good for bitcoin in the long run?
Please let me know your thoughts inthe comments in this episode, Well,

(02:19):
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thanks for joining me on another forminute bitcoin. This is a bit block

(03:07):
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