After months of hyping bitcoin, Elon Musk suddenly says Tesla will stop accepting it

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Elon Musk says Tesla is abandoning plans to accept bitcoin as payment for the company's electric vehicles, citing the cryptocurrency's high environmental cost after months of being bullish on it

"We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Musk said in a note posted on Twitter Wednesday."Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.

Musk tweeted in late March that people"can now buy a Tesla with Bitcoin."Tesla bought $1.5 billion in bitcoin early this year. By the end of March, it was worth $2.5 billionMusk, who has in the past expressed skepticism about cryptocurrencies, said in an interview on social app Clubhouse earlier this year that he thinks bitcoin is on the verge of"getting broad acceptance by conventional finance people." He said he should have bought the digital currency eight years ago.

 

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Elon Musk is just revealing the end of Bitcoin

Lithium is also extremely bad for the environment. He'll admit that only when he's sold all of his TSLA shares.

This is unethical. The manipulation the billionaires do.

Pantes... terjun

He’s just manipulating the Bitcoin market…

It could finance a big data center with 100% renewable energy and make it available to miners, thereby reducing the environmental impact. Do the data centers of google, amazon, etc., generate a similar impact, higher or lower?

I wouldnt buy a tesla with any form of currency, over priced, over rated and unattractive, just like Elon.

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Elon Musk Says Tesla Suspends Accepting Bitcoin for Vehicle PurchasesElon Musk said Tesla has suspended taking bitcoin payments for its vehicles, saying the company would resume using the cryptocurrency for transactions “as soon as mining transitions to more sustainable energy” Probably he prefer wait until some government provide some subsidies. Now watch bitcoin go lower
Source: WSJ - 🏆 98. / 63 Read more »