Opinon: I personally don't mind Telsas $1.5B investment into Bitcoin. It's 8% of Teslas cash & It provides a little diversification. I think Bitcoin is currently the best crypto & has a lot of use cases. It's not without its faults but what form of cash storage isn't.

1/4

Now, one of the biggest drawbacks to Bitcoin is its energy usage. Bitcoin mining currently uses an estimated 17 million kWh in one day. The current rate of electricity consumption by bitcoin miners, however, is estimated to be 0.2% of total global electricity consumption.

2/4

Depending on where you look, that % ranges from about 0.08 to 0.5%. Either way, that's a lot, so hopefully societies can switch to renewable energy solutions faster and faster so this isn't really a problem.
https://www.vox.com/2019/6/18/18642645/bitcoin-energy-price-renewable-china

https://energy.umich.edu/news-events/energy-economics-weekly-briefings/story/cryptocurrency-energy-consumption/

3/4

Some parts of the world are already doing a good job on that front, but much work is still needed. Ok, those are my thoughts lol.

Oh and I personally own no Bitcoin. Just $75 worth of DOGE I forgot I bought in 2017 lol.

Interesting thread about Bitcoin maybe making renewable energy cheaper. https://twitter.com/KishavanBhola/status/1046943161677959168?s=20