Tesla’s board member and Elon Musk’s brother, Kimbal Musk, spoke at the ETHDenver conference about the company’s investment in Bitcoin. Musk said that when the company invested $1.5 billion in Bitcoin, they were unaware of the environmental impact of Bitcoin. Musk used the following statements in his statement:
“We were very ignorant when we invested in Bitcoin. We had no idea of the environmental impact, we literally didn’t know, we looked like a good store of value and a good way to diversify assets. And of course, it didn’t take long to get a million – I’m not kidding, probably a million – messages telling the environment what we’re doing. And of course our company is about creating alternative energies in the future, so we weren’t really well informed when making that decision.”
On the other hand, Musk states that Tesla has no absolute regrets about his Bitcoin purchase. Musk says he hopes the blockchain industry will shift to a more environmentally friendly infrastructure, and that his philanthropic organization Big Green is adopting a DAO governance structure on a less energy-consuming blockchain:
“I don’t really approve of the environmental impact of cryptocurrencies but what it does I love it… So we need to figure out how to do this without harming the environment… This is not a good option with environmental impact.”
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