In case you missed it, we’ve recently been trying to get Elon’s attention:
South African entrepreneur, CEO and Founder of Tesla & Space X, Elon Musk has quite the relationship with cryptocurrency and he’s not quiet about it! This January, Bitcoin soared almost 20% when Musk added ‘Bitcoin’ to his Twitter bio. Bitcoin then rose a further 16% in February after he revealed that Tesla had purchased $1.5 billion worth of the cryptocurrency. Elon Musk aka ‘the Doge father’ has come under scrutiny on Twitter as a result of his ongoing admiration of DOGE coin, some have labeled it as market manipulation due to his huge Twitter following of 56.9 million (at the time of writing).
Bitcoin has recently been under scrutiny for its environmentally-damaging mining functions. According to the BBC, some analysts at Cambridge University have suggested that ‘it uses more energy per annum than Argentina’. Tesla is an American, electric car and renewable energy company; therefore, its whole market is focused on being environmentally friendly. When Elon Musk stated that they were going to accept Bitcoin payment for Tesla, some fans were left somewhat confused as they don’t exactly go hand in hand! Musk has now done a full U-turn by saying earlier in May that Tesla would no longer accept Bitcoin as a form of payment for Tesla due to its massive environmental impact.
This graph shows the power consumption of countries compared to bitcoin in TWh (terawatts per hour).
Seeing as Elon has ditched BTC in search for a greener alternative that aligns with Tesla’s business model, we’ve come up with a solution, Bitcoin Zero (BTC0).
In December 2020, we teamed up with the Universal Protocol Alliance and created Bitcoin Zero. In case you’ve missed it, here’s some highlights:
- It consists of 1 Bitcoin, and 10 UPCO2 tokens burned and the underlying carbon credits retired at minting to compensate for its carbon footprint.
- Allows Bitcoin to be traded on the more energy-efficient Ethereum Network.
- Each UPCO2 token represents 1 tonne of CO2 averted by certified REDD+ rainforest projects (REDD+ is the framework through which countries, the private sector, multilateral funds and others can pay countries to not cut down their forests).
- Fully substantiated Token and transparently minted.
- Issued by Universal Protocol Alliance.
As our CEO, J.P Thieriot said, “The launch of Bitcoin Zero means that finally everyone can accomplish two important goals: Owning Bitcoin, while also doing good for the planet by stimulating demand for voluntary carbon credits.” What’s not to like? We think it’s the most logical form of payment for Tesla to accept considering that they’re looking to consider crypto-currencies that use at least 1%< of Bitcoin’s energy.
Not only are we presenting Elon Musk and Tesla with an environmentally friendly alternative, we’ve offered to give away 5 free Teslas to the Uphold users who get Elon’s attention! Elon, please don’t hesitate to hit us up!
Elon Musk has been very active on Twitter recently promoting both Bitcoin and Dogecoin. We’re seeing constant updates, changes and fluctuations. The second we have an update, we’ll be sure to let everyone know. Make sure to keep your eyes peeled on our social media pages. T’s and C’s coming soon 🚀