Elon Musk & Michael Saylor's NEW Bitcoin Announcement!!!

hey everyone me kevin here we just had a

rebound in cryptocurrencies now we've

kind of softened a little bit but we had

a large rebound in

bitcoin we had a similar rebound in

ethereum though not as

prominent on the five-minute chart very

large rebound in dogecoin

and guess what it all comes back to as

usual tweets folks

tweets yes elon musk tweeted that he

spoke with north american bitcoin miners

and they committed to publish current

and planned renewable usage

and to ask miners worldwide to do so

potentially promising says elon musk but

what was even more interesting was a

response

from michael saylor to elon musk's tweet

take a peek at this michael saylor the

ceo of microstrategy famous for putting

all of their reserves into bitcoin

basically putting microstrategy

on the spot uh for uh being a

massive proponent of investing company

treasuries

into bitcoin and being the first company

to do so

beyond of course companies like paypal

or square

who were investing in cryptocurrency or

holding cryptocurrencies

as a way to facilitate transactions on

their platforms so michael saylor here

notes that

yesterday i was pleased to host a

meeting

between elon musk and the leading

bitcoin miners in north america

the miners have agreed to form the

bitcoin

mining council to promote energy usage

transparency and accelerate

sustainability initiatives worldwide

this is actually really really good news

see what happens when you have

uh fud and you have concerns and you

have

fear fud being fear uncertainty and

doubt is you actually promote change and

this is something that we had talked

about

in regards to elon musk's uh freak out

over hash rates dropping 30

in china because one coal mine shut down

leading to the belief that wait a minute

does that mean 30

of bitcoin mining in china comes from

this one facility in china

and they use coal that's that's a lot

right that led to a lot of concerns

about the sustainability of bitcoin's

ability to grow fast so not just about

bitcoin's long-term stability

but also in their ability to grow fast

remember previously elon musk tweeted

that hey look long term we know we're

going to go green but the bigger issue

is

what about now we can't sacrifice

going uh green in order to grow bitcoin

faster

if it means we're pumping out a bunch

more carbon dioxide into the atmosphere

by burning fossil fuels that's something

that elon musk is very much against

and so this new bitcoin mining council

is pretty interesting and the market is

responding very positively to this

because essentially it's a way of saying

look we're going to get together we're

going to publish

how much is currently for bitcoin how

much of our energy usage today is

renewable

how much we're planning on adding to

renewables where those renewable sources

are coming from

keep in mind north american miners

include not just american miners but

also canadian miners

so it'd be an interesting thing to find

out if hut 8 one of the companies that

we interviewed uh

twice on this channel is part of this

bitcoin mining council

i will reach out and see if i can find

out an answer to specifically this

but now i wouldn't hold my breath for

north america to actually be able to

convince let's say

china to uh be more green or to provide

this sort of transparency

now if chinese companies join this

bitcoin mining council that could be

really really good especially since

if you're basically putting new

requirements or initiatives in place for

north american miners

and chinese miners like yeah no thanks

well then that again

makes chinese miners more profitable

but unfortunately sacrifice is going

green now the good news is

this is a phenomenal step in the right

direction for cryptocurrencies it shows

that look

we can have massive fear moments massive

events of fun

and we can actually claw back from them

now maybe a tweet has helped

spur that but i wouldn't be surprised if

this kind of movement

helps lead to some offloading of shorts

which offloading shorts

closing those short positions does mean

buying back crypto

and could help push bitcoin back to

higher levels now

right now we did hit a very hard

resistance at 40

000 a coin uh at bitcoin we have not

been able to surpass that yet we'll see

if we can get past 40 000 but right now

we're settling a little bit below we're

bobbing around thirty nine thousand we

hit that lid of forty thousand

bobbing around thirty nine thousand it's

much higher than the previous support

levels around thirty three thirty two

so this is much better this is very very

good news for the entire crypto asset

community

and i'm very excited about this new

bitcoin mining council

again i think it's going to have very

good impacts in north america it's going

to be great

for sustainability we know kevin o'leary

also just tweeted how important

bitcoin sustainability is going to be to

companies in the future

but again i question if countries like

china or other countries will actually

follow in the footsteps of

north america if history has any

guidance the answer to that is probably

going to be no which

does also raise the question of hey well

wait a minute we know that kevin o'leary

has before

talked about hey in the future companies

are going to start demanding american

coins

rather than dirty coins which might be

produced in

china now we don't really have a clear

way to

differentiate coins you would really

have to get the coin

from a miner or better yet just invest

in north american miners rather than in

chinese miners

that's sort of kevin o'leary's strategy

right now

but this whole movement kind of goes to

reiterate what kevin o'leary told us

might happen a few months ago when i

first interviewed him

when i first interviewed kevin o'leary

on my channel he mentioned there will be

a divergence there will come a

divergence

in north american coins and chinese

coins quite frankly this

bitcoin mining council could in theory

in the future have a

bitcoin mining council approved

check mark for various different miners

throughout north america

potentially creating two markets for

bitcoins

coins that came from and can be traced

back to

sustainable miners and maybe those are

the coins that go into

treasury coffers at companies should

companies be interested in using bitcoin

in their treasuries

uh and maybe there would be a split then

in pricing where we kind of get the

the china bitcoin pricing and we get the

sustainable pricing

i don't exactly know how that kind of

fork would work

uh and and whether the market could even

sustain such a difference

but it certainly seems like there would

be some sort of

market value difference if somebody was

able to say hey look i can sell you 10

bitcoin

and it's coming from a canadian miner

which might enable you to resell it not

just to the public but also

to certain companies that require green

coins in the future

so it's going to be interesting to see

how exactly this divergence takes hold

it is uh this whole bitcoin mining

council

does make me think hey is this a great

argument to invest in north american

miners

or wait a minute is this a really bad

time to invest in north american miners

because the chinese are just going to

keep mining and mining and mining

without necessarily caring about this

bitcoin mining council

so i think all eyes are on china right

now to see are we going to get a big

divergence in mining prices and coin

prices

i'd keep an eye there without a doubt uh

keep in mind we also had

elon musk pitch a dogecoin or a shout

out to dogecoin

again encouraging folks who had ideas

for making dogecoin better to submit

their ideas to github

and to reddit in fact he said if you'd

like to help develop doge please submit

ideas on github

and reddit uh then he even followed up

to this with someone suggested changing

dogecoin fees

based on phrases of the moon which is

or phases of the moon excuse me which is

pretty awesome

now i'm not exactly sure about that

because that would mean at

certain parts of the lunar cycle people

would be paying

more fees to use doge and in certain

other parts of the lunar cycle people

would be paying

lower fees which seems very odd because

then it seems like people would try to

time their

purchases in accordance with what the

moon is doing

which is also odd so i i don't know

i mean maybe that sounds awesome i'm not

quite sure which definition of awesome

elon's using here because there's

awesome like oh

that is an awesome volcano look at it

destroy everything right the original

context

he's probably using the newer like oh

man that's awesome

like cool context but in practicality

i'm not sure if that helps elon's case

here and i'm not sure if that helps

doge's case here i don't know that

sounds like if that's the best idea they

got right now it's a little bit of a

head scratcher

although hey that was just doing okay

and all it broke apart

or broke above i should say 33 and it's

sitting around 35

36 right now so let's see if it can hold

folks

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watching and we'll see in the next one

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