The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining By Cointelegraph – Investing.com

The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining By Cointelegraph – Investing.com

The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining

Tesla (NASDAQ:) — a top 10 company in the Fortune 100 that is run by one of the world's wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash into (BTC) in early February. Musk's Bitcoin purchase startled traditional investors, who now had to understand how their investment in Tesla would relate to Bitcoin.

Currently, much of Tesla's revenue comes from selling surplus renewable energy credits, or RECs, which will dry up in the next several years as competing automakers produce their own zero-emissions vehicles and build up RECs with states that require them.William Szamosszegi is the CEO and founder of Sazmining Inc, a cryptocurrency mining developer and consulting firm, and host of Everything Crypto Mining: The Sazmining Podcast. He is bullish on Bitcoin's future as the dominant, global digital reserve asset and believes Bitcoin is the solution for layer-one, sound money. William grew up in Maryland and studied psychology and management at Bucknell University. William spends his spare time working out, seeing friends and reading.Continue Reading on Coin Telegraph