Brad Garlinghouse, CEO of Ripple, claimed that it is beyond flattering that Meltem Demirors, CSO of Coinshares, believed his company was planning to use FUD for bitcoin energy:
“It’s beyond flattering that you think Ripple is the puppet master behind Elon Musk, countless scientists, governments, crypto enthusiasts and others who have stated the facts about BTC’s energy use.”
Ripple CEO Criticizes Bitcoin’s Energy Consumption
As reported earlier, Demirors implied that Ripple was the company driving the harmful anti-Bitcoin narrative.
Ripple executives often criticize Bitcoin’s energy consumption, and founder Chris Larsen even claimed that his proof-of-work algorithm should be abandoned. Most importantly, the company takes a leadership position in lobbying spending.
Elon Musk’s sudden U-turn on Bitcoin is still a mystery. The billionaire agreed that this cryptocurrency was an incentive to introduce green electricity a few weeks before Tesla stopped accepting cryptocurrency as a means of payment.
Ark Investments’ Cathie Wood suggests that large institutional players like BlackRock could be involved.
Elon Musk Believes Fiat Is the Real Enemy
While Bitcoiners and crypto investors are angry, Elon Musk wants you to be focused on the real enemy: fiat money.
After being asked what he thinks about people who are angry at him because of his cryptocurrency tweets, the Tesla CEO claims that the “true battle” is between fiat and crypto, rejecting tribalism within the community. Musk himself says that he prefers the latter.
Earlier this month, Tesla announced the suspension of Bitcoin, which is believed to be one of the key reasons behind the ongoing market correction.