Vitalik Rug Pulls Meme Coins, Donates to COVID-19 Relief in India as Tesla Says No to Bitcoin
Vitalik Rug Pulls Meme Coins
Tesla Backtracks, Stops Accepting BTC
Cryptocurrency is a good idea on many levels. It has a promising future, but this cannot come at the cost of the environment.
For this reason, Tesla, the world’s most valuable automaker, won’t be accepting Bitcoin as payment as we proceed.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
The U-turn from Tesla and Elon Musk is less than three months after the firm said it would accept BTC, holding the cryptocurrency in their balance sheet.
Tesla still holds around 38,300 Bitcoin.
Watch what they do not what they say.
— Jason A. Williams “Parabolic Guy” (@GoingParabolic) May 13, 2021
While it may be a blow in the short term, the company will not be selling any bit of the BTC. This, they explained, is because they would need to make BTC transactions in the future.
Earlier on, Tesla made a $1.5 billion investment in Bitcoin.
Despite the temporary price shock, BTC has stabilized after the free fall on Thursday’s Asian session. Crypto proponents remain defiant, saying BTC is powered by a web of renewables, not coal or other destructive energy sources.
Elon is not a half measures guy. I predict he will become a competitor/disruptor in the Bitcoin mining industry. I wager 500k sats that, within a year, Tesla/Solar City will announces its entry into “super clean” bitcoin mining.
— Anthony Scaramucci (@Scaramucci) May 13, 2021
Vitalik Rug Pulls Meme Coins and Donate Proceeds to India’s COVID-19 Relief Funds
On May 13, the average transaction fee on Ethereum stood at $64—the highest level since launch.
A contributing factor, analysts explain, is the hysteria around meme coins following the success of Dogecoin.
After weeks of euphoria, Vitalik Buterin chose violence on May 12. He went on the offensive unloading a significant amount of meme coins—in their hundreds of millions he received as donations, liquidating them.
Vitalik is starting to dump dog tokens. https://t.co/9R4zwQ6bS3 pic.twitter.com/8C6NeYwd3y
— Larry Cermak (@lawmaster) May 12, 2021
He crashed their prices, made big money, and donated earnings to the COVID-19 Relief Fund in India and NGOs.
Looks like donations have so far gone to:
– Crypto COVID India
– Artificial Intelligence @ MIRI
– Charter Cities Institute
– Methuselah Foundation— Larry Cermak (@lawmaster) May 12, 2021
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