BlackRock's Bitcoin fund, which opposes Tesla's $1.5 billion Bitcoin (BTC) purchase and cites high energy consumption, has put pressure on Tesla to back off. This is due to the Twitter phenomenon known as Bitcoin Archive.
Some Twitter users expressed their right to the phenomena, but others contended that the Bitcoin Archive was providing skewed information in light of BlackRock's efforts to promote the usage of renewable energy for mining.
On the other side, Fenomen responded to the accusations that he published news that was slanted with posts from August 20, 2021.
BlackRock opposed Tesla's acceptance of Bitcoin payments, citing the carbon emissions produced by Bitcoin miners, yet the company quickly purchased Bitcoin mining shares worth $382 million, according to a linked post by Bitcoin Archive.
Social media users were reminded of BlackRock's prior anti-Bitcoin actions with the launch of sales of its Blockchain exchange-traded fund, the largest asset manager in the world. BlackRock was accused of manipulating the market, they said.
As the events in 2021 continued, Twitter users' conversations heated up once more. According to certain users, Elon Musk might be used for Bitcoin manipulations by BlackRock, one of Tesla's major partners.
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