Share this article
Elon Musk Says Lightning Network 'Needed' to Scale Bitcoin for Now
A single-layer network like Bitcoin's could carry all humans transactions in the future, the Tesla CEO tweeted Friday.
Updated Sep 14, 2021, 12:59 p.m. Published May 21, 2021, 8:57 a.m.
Make us preferred on Google
Elon Musk has jumped into the bitcoin scaling debate on Twitter, saying the layer 2 payments Lightning Network is "needed" for now.
STORY CONTINUES BELOW
- "Layer count depends on projected bandwidth & compute, both rising rapidly, which means single layer network [e.g. Bitcoin alone] can carry all human transactions in future imo," the Tesla CEO tweeted Friday.
- Until then, however, Lightning will be necessary to provide the required bandwidth, he argued.
- The Lightning Network is a layer atop the Bitcoin blockchain designed to enable faster and cheaper transactions by enabling user-generated channels for sending and receiving payments.
Achieving truly decentralized finance – power to the people – is a noble & important goal.
— Name (@elonmusk) May 21, 2021
Layer count depends on projected bandwidth & compute, both rising rapidly, which means single layer network can carry all human transactions in future imo.
For now, Lightning is needed.
- Musk has also been responding to a Twitter discussion about bitcoin's energy usage, the reason cited for Tesla's recent U-turn on accepting the cryptocurrency as a method of payment.
- He proposed that the top-10 mining organizations post audits of the amount of renewable energy used in their operations as one way to tackle the issue.
See also: Bitcoin’s Lightning Network Now Has 10K Active Nodes and $69M in Locked Value
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Deus X CEO Tim Grant: We aren't replacing finance; we're integrating it
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
Top Stories
