Tesla CEO Elon Musk has revealed the electric car maker will resume accepting bitcoin payments once around 50% of the cryptocurrency’s mining is done using renewable energy.

At least 90% of the blocks mined on the Bitcoin blockchain in any of the designated 2-week periods “signal” support for the Taproot upgrade on the flagship cryptocurrency’s network, with the benchmark being met at block 687284.

The Purpose Bitcoin exchange-traded fund (ETF), which launched back in February, has now accumulated 19,692.149 BTC. It added 284.51 BTC over the past seven days and nearly 2,000 BTC since the cryptocurrency’s May 15 crash.

Sponsored: SportX is an online sports and crypto betting platform that has been among the market pioneers. Started operating in 2019, SportX has become the golden standard for reliability, security, and versatility in terms of supported events and betting options. 

Top stories in the Crypto Roundup today:

• Tesla to Resume Bitcoin Payments Once Miners Go 50% Green
• Bitcoin’s Taproot Upgrade Gets 90% Support to Lock In Activation
• Canadian Bitcoin ETF Added to Holdings During Steep Market correction
• Daily Movers – LINK, THETA, AAVE
• Sponsored: Earn from Formula 1 & Euro2020 through SportX Summer Tournament

Tesla to Resume Bitcoin Payments Once Miners go 50% Green

Tesla CEO Elon Musk has revealed the electric car maker will resume accepting bitcoin payments once around 50% of the cryptocurrency’s mining is done using renewable energy.

Tesla halted bitcoin payments in mid-May over environmental concerns, but Musk revealed on social media that “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trends, Tesla will resume allowing Bitcoin transactions.”

How Musk would check miners’ clean energy usage is unclear, as there’s widespread debate over where the industry currently stands. Musk’s tweet also reiterated the firm only sold 10% of the BTC it bought with a $1.5 billion investment in the first quarter of the year.

Per Musk, Tesla sold 10% of its holdings to “confirm BTC could be liquidated easily without moving the market.”

Bitcoin’s Taproot Upgrade Gets 90% Support to Lock In Activation

At least 90% of the blocks mined on the Bitcoin blockchain in any of the designated 2-week periods “signal” support for the Taproot upgrade on the flagship cryptocurrency’s network, with the benchmark being met at block 687284.

Taproot is Bitcoin’s most anticipated upgrade since Segregated Witness (SegWit) in 2017. While SegWit focused on scaling the Bitcoin protocol, Taproot focuses on giving Bitcoin a new signature scheme known as Schnorr signatures.

The new signature scheme opens up possibilities that include improving privacy, security, scaling, and multisignature wallets. Now that the soft fork upgrade has been “locked in”, there’s a 5-month waiting period during which miners and nodes have time to upgrade their software to the latest version of Bitcoin Core, which contains activation logic for the Taproot soft fork.

When Bitcoin reaches block 709,632 in November, Taproot will activate automatically. From that point on, developers will be able to use the tools the soft fork brings to the table.

Canadian Bitcoin ETF Added to Holdings During Steep Market Correction

The Purpose Bitcoin exchange-traded fund (ETF), which launched back in February, has now accumulated 19,692.149 BTC. It added 284.51 BTC over the past seven days and nearly 2,000 BTC since the cryptocurrency’s May 15 crash.

The ETF notably added to its holdings during the May 19 flash crash that saw the price of BTC drop to test its support around $30,000. The BTC the ETF currently holds is now worth roughly $800 million.

To some, the ETF’s growing BTC holdings suggest that investors aren’t concerned about its short-term price action and are instead taking advantage of the dip to enter the market and gain exposure to BTC.

Daily Movers – LINK, THETA, AAVE

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Chainlink (LINK) - Chainlink is a blockchain-based middleware, acting as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, various web APIs, and traditional bank account payments.

Theta Token (THETA) – Theta is a decentralized video delivery network similar to Twitch, but powered by its users. Its mainnet was launched in 2019 with a swap from ERC20 Theta tokens to native THETA on its own blockchain.

Aave (AAVE) - Aave is a decentralized non-custodial money market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion. The goal of Aave as a protocol is to bring decentralized finance to the masses.

Earn from Formula 1 & Euro2020 through SportX Summer Tournament

SportX is an online sports and crypto betting platform that has been among the market pioneers. Started operating in 2019, SportX has become the golden standard for reliability, security, and versatility in terms of supported events and betting options. 

To compensate for the delayed sports season in 2020, SportX organizes their Summer Tournament which consists of a series of sporting events with different price reward pools. The main events for June 2021, apart from their two-staged Summer Open event are the:

• $1,000 F1 Challenge - running from 25-27 June. The event is open to all bettors, with a first place reward of $300. Only bets on Formula 1 will count and results will be based on profit/loss
• $4,000 Euro Knockout (Soccer) - This betting event is scheduled to run between 26-29 June, and will be open to everyone. Only bets placed on Euro 2020 will count, with 50% of the profit paid in Sportx` token, providing additional benefits to the winners

Despite the specified event frames, users can take advantage of SportX platform and take part in betting beyond the Tournament. This includes the recently added option for placing bets on Bitcoin and Ethereum prices. 

Security - not just a word

This is not just the next project that promises security and underdelivers. Unlike other platforms, all bets on SportX can be placed directly from cryptocurrency wallets and browser extensions, while wagers are held in an escrow contract. This protects all funds and guarantees payouts, with no delays or partial payments.

SX Token

The SX token is based on the ERC-20 standard, and provides daily staking rewards when converted to Polygon and staked. It also enables reduced betting fees and governance participation to holders. All SX stakers are additionally incentivized through two streams of revenues - 1) daily earnings and 2) a percentage from the SportX fee on winning bets allocated to stakers. To learn more visit SportX.Bet website.  

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