Plus, it seems Bitcoin's energy consumption woes are only getting worse.
Today’s Top Crypto News Stories
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Litecoin 'Screwed Up,' Charlie Lee Says 😬
The Litecoin Foundation "screwed up" by retweeting a bogus announcement that Walmart planned to accept the cryptocurrency as a payment method. Charlie Lee told Bloomberg that the organization has no involvement in the press release's publication. The story ended up being picked up by the likes of CNBC and Reuters before being rescinded. Read more here.
El Salvador's Crypto Wallet '95%' Fixed 👀
President Nayib Bukele has said the technical issues plaguing the Chivo app will be fully fixed within days. He also admitted it was "too high a challenge" for El Salvador to roll out Bitcoin as legal tender in just three months. According to Bukele, Chivo now has more than 500,000 users, but new registrations are suspended until the errors are resolved. The latest.
Celeb Investor is Doubling His Crypto Stash 💰
Shark Tank star Kevin O'Leary is doubling his crypto investments by the end of 2021 — from 3% to 7%. However, he warned ongoing regulatory uncertainty may be stopping other high net worth individuals from getting involved. O'Leary has changed his tune. In 2019, he described BTC as "garbage." The cryptocurrency was worth just $8,000 then. What he said.
BTC's Energy Use Surpasses 2020 Total 📈
The Bitcoin network has already used more energy this year than in the whole of 2020. According to Bloomberg, the blockchain consumed 67TWh of electricity last year. By the end of 2021, its research suggests 91TWh will have been used — enough to power Pakistan. "It is essential to improve the efficiency of crypto mining," the report says. See the chart.