Investors Paid Heed to Elon Musk Highlighting Bitcoin’s Carbon Footprint: Survey

A recently conducted survey has revealed that the investors are paying close attention to the discussion of Elon Musk regarding the carbon footprint of Bitcoin. Due to the criticization of Bitcoin by the billionaire CEO of Tesla regarding the energy consumption of the asset, investors are concerned about the impact of Bitcoin on the environment.

Elon Musk Talks About Carbon Footprint of Bitcoin

In accordance with a new report revealed by Investing.com, a financial data revealing website, around 1,103 investors said that they learned about the impact of Bitcoin mining on the environment in the month of June following the thrashing of Bitcoin by Elon Musk on Twitter.

It should be noticed that it was only Musk, who assisted the coin in reaching new highs and reach the mark of $44,790 after revealing that Tesla has invested $1.5 billion in Bitcoin back in the month of February.

The surge in the price of flagship currency continued until the month of April when it reached its all-time high by touching the mark of $62K.

Following the ATH of Bitcoin, Musk dumped the coin and revealed that Tesla is going to stop accepting payments in BTC due to its harmful effects on the environment.

Investors Concerned About The Environmental Effect of BTC

As disclosed in the data acquired from the survey by Investing.com, around 30% of the total participants in the survey said that they sold their BTC holdings when the market was crashing and was on a free fall. 

However, it should be noted that one-fifth of the total investors that participated in the survey said that they made an exit from the cryptocurrency because of the criticism the digital asset faced from Elon Musk.

Well, be it the rise or fall of Bitcoin, the fact that the CEO of Tesla has a lot of power over the investors as well as over the market can not be ignored.