Crypto enthusiast Elon Musk named Times Magazine’s Person of the year

Elon Musk

TL;DR Breakdown

  • ELon Musk named Times person of the year.
  • Tesla CEO awarded for his role in robots, solar, crypto, climate among others.
  • Elon Musk restates himself as an ambassador of green environment with crypto.

Second world richest man and crypto fanatic, Elon Musk has been named Time Magazine’s Person of the Year for 2021.

The globally known magazine named him the person of the year after they described the Tesla CEO as a player in robots and solar, cryptocurrency and climate, brain-computer implants.

Times Magazine said Musk is working to stave off the menace of artificial intelligence and underground tunnels to move people and freight at super speeds.

“He’s a player in robots and solar, cryptocurrency and climate, brain-computer implants to stave off the menace of artificial intelligence and underground tunnels to move people and freight at super speeds,” Time Magazine said.

The description given to the Tesla boss is apt after he has made a series of crypto-related headlines this year.

He had the courage to drop invest half a billion dollars into Bitcoin in February and turned against the currency, noting its damage to the environment. Musk has also frequently impacted the crypto markets owing to his interest in meme cryptocurrencies like Dogecoin.

Elon Musk and green environment

First looking like a move to demean the crypto industry, his u-turn on Bitcoin appears now to be his biggest contribution to the crypto industry.

In February, Tesla invested $500 million into Bitcoin, adding untold momentum to the flagship cryptocurrency’s institutional momentum already being fuelled by other companies like MicroStrategy and Square.

But just three months after that huge Bitcoin bet, Musk took to Twitter to announce Tesla’s policy reversal.

He sighted concerns over y increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel for the decision.

Since then, a renewed debate about Bitcoin’s carbon footprint has emerged, which also saw the creation of a Bitcoin Mining Council to oversee Bitcoin’s hopeful transition to renewable energy.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

Related News