Elon Musk Suspends Bitcoin For Tesla Purchases
Now, the Tesla will not accept Bitcoin for car purchases, as said CEO Elon musk in tweet.
"We are concerned about raplidly use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel."
He also reminds that, "we are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction."
After his announcement, Cryptocurrency Market crashed, also Tesla share fell down to 4 percent.
Michael Saylor from MIT aerospace said,
"Ironic because no incremental energy is used in a #bitcoin transaction. The energy is used to secure the crypto-asset network, and the net impact on fossil fuel consumption over time will be negative, all things considered."
Earlier in February, Tesla had about $1.5 Billion worth of Bitcoin.
On Sunday, Musk announced that his space research company SpaceX will accept Dogecoin as payment to launch a lunar mission next year.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021