Mark Cuban Advises Tesla & Elon Musk over Bitcoin Detachment

Mark Cuban, an owner of the American Basketball Team who also starred in the famous TV show “Shark Tank” advised Tesla’s CEO that Bitcoin is environmentally friendly as it is capable of bringing positive environmental change.

Mark Cuban’s fame is immeasurable because he has famous for so many reasons. He is currently an owner of an American Basketball team namely the Dallas Mavericks. He is also quite popular for his appearance in the famous American TV program i.e. Star Tank. Apart from that, he is also widely known to be one of the biggest investors of crypto. His preferred and most treasured cryptocurrency is Bitcoin, of which he has a good number of coins available with him.

Cuban was seen lately indulging in Bitcoin-related debate from his Twitter account where he talked about Bitcoin. In addition, during his Twitter discussion, he commented upon the recent delisting of Bitcoin from Tesla Inc.’s payment mechanism. He said that he had not expected that a company like Tesla would ever decide to take such a step. He thereafter suggested to his friend in Tesla Inc., who is apparently the CEO and Technoking of Tesla i.e. Elon Musk.

Before making any direct comments towards Musk, Cuban said initially that his business Mavs.com has not delisted Bitcoin or any other crypto coin. In addition, he stated that the environment will only be helped if gold is not considered a value store.

While addressing Musk, Cuban commented that of course Bitcoin and cryptocurrencies are mined on the basis of consuming high energy. But he denied the argument that Bitcoin is the cause of environmental pollution. Instead, he suggested that there is an urgent need to seek alternatives through which electricity can be produced without harming the environment. But one cannot blame Bitcoin’s mining process because the electricity used was produced on the basis of fossil fuels, said Cuban.

Tesla was facing too much criticism with regard to Bitcoin as it was allegedly produced at the cost of harming the environment. Because of this criticism, Tesla unilaterally decided to suspend Bitcoin payments and reverted back to the main source i.e. fiat. The company then said that it was growing concerns about the usage of fossil fuels which were used to produce Bitcoins. In addition, the company also said that it was greatly concerned about such mining activities which were executed by burning coal.

Cuban also referred an article to Musk which was issued in the New York Times’ edition of 2005. This article talked about Gold and what processes are capitalized for mining Gold. It was pointed out in that article that in the areas of Europe, Africa, and West and Latin America, gold mining is done on the basis of dumps of nuclear waste. The article further revealed that the gold mining activities in these areas were the cause of producing a high amount of hazardous toxic. This article was then duly endorsed by the US Environmental Protection Agency as well. The Environmental Authority of the US said that the hazardous toxic produced by the gold mining industry is worse than the one produced by any other industry.

But only time will tell whether Musk or Tesla is in the opposition to consider Cuban’s advice or not.