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When Sustainable Tesla Welcomes The Energy-Intensive Bitcoin


When the world is doomed under the adverse effects of the pandemic along with the speculations of a new strain addition, when the whole world seems to be in a meltdown, yet the WallStreet seems to boom, setting an all-time-highs. Lately, in the past few months, the limelight has been taken by Bitcoin. Over that, Elon Musk with his tweets on favouring cryptocurrencies dropped a bombshell of Tesla buying 1.5 billion worth of Bitcoin, along with accepting it as payment for its products.

As Bill Gates say:

What Elon did with Tesla is one of the greatest contributions to climate change anyone’s ever made.

2020 has been a game-changer for both the assets. Bitcoin has been lassoing all the institutional investors in pumping its price. BTC and Tesla earned their spots as both rallied tremendously in price over 2020. At times, Tesla’s growth was considered similar to that of BTC. Well, other times they found to outperform each other. What happened when TESLA greeted Bitcoin?


Elon happened to put forth his opinions on BTC many times, be it in one-liner tweets, interviews, or his replies to his followers’ questions. In an interview with the advisory services firm, ARK Invest’s podcast, Elon remarked :

BTC’s structure is ‘quite brilliant’, is a far better way to transfer value than pieces of paper.

At one time he even stressed on:

It would not be a good use of Tesla resources to get involved in crypto. We’re just really trying to accelerate the advance of sustainable energy.

On asking if BTC will be the only native cryptocurrency of the Internet, he thinks that,

One of the downsides of crypto is that computationally it is quite energy intensive. So there have to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create the incremental Bitcoin at this point.


Musk’s words do not reflect his actions at this very decision. Tesla even went on to face scrutiny over the announcement. The founder and owner of, Michael Maloney (Mike), in his video says:

When an enormous portion of the population gets affluent, they have got assets to protect, when the currencies that they are using become a suspect, they start making a shift over to assets that are going to protect their wealth and Tesla is one of them. Tesla going into BTC, Gold, is a part of the death of the global dollar standard.

In a tweet by Michael Maloney, we have an intriguing revelation to look upon, where Mike shares that Tesla has accepted bitcoin payments since 2013.

This won't be the first time that @Tesla and @elonmusk accepts #Bitcoin as payment. My friend @TonyGallippi bought a Model S with BTC back in 2012 or 2013. What does that equate to today? — Michael Maloney (@mike_maloney) February 10, 2021

Mike said that Tesla has already taken BTC for is the first dealer to accept BTC in trade for gold and silver. One can pay for gold and silver with BTC, BCH, ETH, etc. He even shared a short story of him dipping his toes in the world of cryptocurrencies when he was driving roadsters, took delivery of the 599th Model S in 2012. There was an April event the same year, next to Tesla’s Fremont Factory, California. Mike happened to meet Tony Galippi, Co-founder of BitPay Inc., where Tony had paid for his Tesla Model S with BTC.

Elon happened to like the video as well.

@elonmusk – I see that you 'liked' this video segment, check out the full version here…I have some info for you and @Tesla regarding #Silver. — Michael Maloney (@mike_maloney) February 10, 2021

Tony replied to Mike with a hilarious tweet.

Hey Mike, I spent 984 BTC on a Model S in 2013. It's worth $44M today and still runs great! — Tony Gallippi (@TonyGallippi) February 10, 2021

Bitpay Inc. makes it convenient for precious metal dealers to accept BTC from the customer, hedge it into the dollar immediately as then the price gets locked. The spread of the dealers is limited, while BTC’s volatility makes the dealers lock it into dollars and turn it into gold for the customers.


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Mike has a contrasting opinion if anyone is thinking about BTC going to crash after its parabolic increase. As for the chart, in 2014, one can barely see the rise while in comparison to the 2018 end, which shows horrific, frightening, anxiety-inducing pullbacks. However, Mike has been buying BTC since 2014, and bought it all the way down to $240, bought it every single week, and later converting some of his BTC into silver along with Gold, avoiding the pullback. Since then silver has risen 70%.

Disrupting the financial and transportation sector, in July 2020, BTC was the second most viewed asset after TSLA in the United States. In 2019, BTC outperformed Tesla by an impressive margin of 50%. It is up by 30% since the start of 2019 having 6 consecutive weekly gains.

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Tesla, a car manufacturing company that hasn’t seen much of a rise in its stock price until recently. A company that has attained stability after overcoming tons of obstacles. TSLA’s price fell down near $350. By July 2020, it flew up to $1750.

Tesla has been an exemplar model many a time in its stocks.

  1. In August 2020, Tesla’s stock price hit ATH, jumping over 45% in 10 days to close above $2000 per share.

  2. In 2019, down by 14.9%, in the same period as BTC. According to analysts, the dump in the shares was due to the poor delivery figures from its model and cars.

  3. TSLA overtook Toyota in 2020, establishing its dominance in the sector as the stock continues to rise.

  4. Tesla’s cybertruck pumped up the rally in 2020.

According to the Nasdaq exchange, Tesla increased with an 8.5% increase in its stock price, officially hitting $1214.

Crypto venture capitalist Mike Novogratz on Feb 3, 2020, showed that TSLA’s stock has been closely mimicking Bitcoin’s story from 2017. Assembling data from markets,f a comparison has to be done on both the stocks, BTC/USD from 2017 to Tesla stocks from 2019, then the extent of the two assets’ correlation becomes immediately clear.

  1. The time Bitcoin took to reach $1000 to $20,000, the same timeframe Tesla took to reach $780.

  2. Also, Bitcoin declined to hit a local low of $3100 at the end of the year 2018 from $9000 in the first few weeks of 2018.

While Bitcoin and Tesla have no price correlation, but the current worth of the asset(valuation) signifies that:

Bitcoin, as the first entrant attains the caliber to grow further. The rise in price, despite geopolitical and macro risks, may affect such assets in a positive manner.

Due to the high amount of risks, profit is highly relative. Throughout the first half of 2020, Tesla has been one of the shorted stock as its price is volatile just like BTC. Based on the data from the Nasdaq exchange, it remains a heavily-shorted stock to this date.


Bitcoin attained an ATH, as Tesla went frenzy on buying Bitcoin. There was a FOMO among the buyers creating traffic. Not only individuals but institutional investors have been eyeing BTC for storing them as assets. The trend, started by MicroStrategy, was followed by others. Tesla is the recent entrant or maybe not, maybe it was an inkling of Musk’s actions when he put Bitcoin in his Twitter bio.

BTC on crypto exchanges is doing great in comparison to the other stock exchanges in the mainstream market. BTC and TSLA are usually compared for their high-risk nature. The surge in interest in both BTC and Tesla has left some pondering if BTC is behaving more like a tech stock.

Similarity, according to Bonello, BTC and Tesla have the potential for exponential growth, making them both volatile and reflexive. Also, volatile assets attracted a lot of millennial retail investors. They aren’t just bubbles. Bitcoin has matured itself overtime being as a highly liquid stock.


The paper currency is somehow losing value for the past year. Mike further says:

It’s wonderful that Tesla is creating this demand in hard assets and BTC. It is a great thing as it raises awareness and it is part of the death of the global dollar standard.

Mike also hopes that Tesla considers hedging the upside cost risk of silver, as there is a lot of silver in an electric than a regular car.

On’s Tweet, Mike’s suggestion to Tesla’s announcement of investing in Gold is highly noteworthy.


Prices are going to get a lot higher in the future. He suggests Elon hedge for silver and lock it in lower prices. He thinks it’s great that Tesla is considering going into precious metals and other hard assets and this is actually a part of 11-12 years’ prediction since 2009, regarding the death of the global dollar standard. Even though it’s taking a little bit longer than Mike thought, but it’s on its way.

Jeff Clark wrote an open letter to encourage Elon into buying physical gold and not paper ETFs. He also thought of adding silver since he does use silver. EVs use almost twice as much more silver. Jeff Clark also points out:

The only way it works is taking physical metal off the market and putting it into strong hands.


Investors since the pandemic have gone in a panic state, as the economic turbulence was at its height. So, having reserve assets becomes highly necessary for staying away from any kind of probable collapse. Investing in digital currencies or physical assets somehow proves to be a smart move. Even though analysts are doubtful of digital currencies’ volatility, you never know what might happen in the next hour.

Elon’s actions certainly proved his cautious move regarding his company’s future shares and assets. As he even swiftly managed in lassoing all the investors with him in one tweet.

Image Source: walpaperlist



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