Kimbal Musk, Elon’s Brother, Says He ‘Violently’ Opposes Cryptocurrency

Elon has been one of the most outspoken individuals in the cryptocurrency sector, but his brother Kimbal Musk has his own set of beliefs when it comes to the digital asset class. Kimbal stated in an interview with Input Magazine that he is concerned about cryptocurrency’ negative impact on the environment. He didn’t mince words, actually: “I am violently opposed to anything with that degree of environmental damage,” Kimbal told Input Magazine. Related Article | Could An Elon Musk Time Magazine Cover Predict The Crypto Cycle Peak? Kimbal Musk Says Crypto An ‘Environmental Crisis’ “Cryptocurrency as it currently exists is a non-starter. I violently agree that we must fix this environmental crisis,” he said. Mining bitcoin has been shown to consume an enormous amount of energy. A single BTC transaction is projected to eat up 2,292.5 kilowatt-hours of electricity, which is sufficient to run a normal US home for nearly 80 days. This is the reason why his brother Elon stopped accepting bitcoin payments for Tesla vehicles last year, despite the fact that the electric car manufacturer still has roughly $2 billion in bitcoin on its balance sheet. With over 200,000 transactions each day – and counting – worry about crypto’s environmental impact has grown. Tesla announced in a filing with the US Securities and Exchange Commission on February 8 last year that it had invested $1.5 ...