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Cover Finance & Development

Currency Notes: Cleaning Up Crypto

International Monetary Fund

TESLA CEO ELON MUSK reignited a long-simmering debate in June over Bitcoin’s energy consumption. Tesla will accept the cryptocurrency for car sales only “when there’s confirmation of reasonable (~50 percent) clean energy usage by miners with positive future trend,” Musk said in a tweet.

Keywords:: bitcoin rival Ethereum; bitcoin transaction; Bitcoin system; Bitcoin's status; energy consumption problem; Renewable energy; Blockchain and DLT; Mining sector; Electricity; consumption problem; unit of account

Type:: Journal Article

Series:: Finance & Development

Volume/Issue:: Volume 58: Issue 003

Publisher:: International Monetary Fund

Publication Date:: 01 Sep 2021

Language:: English

DOI:: https://doi.org/10.5089/9781513590349.022.A023

ISBN:: 9781513590349

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