Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns
Monday, 17 May, 2021, 00:12
Tesla CEO Elon Musk said Wednesday on Twitter that Tesla has “suspended vehicle purchases using bitcoin,” out of concern over “rapidly increasing use of fossil fuels for bitcoin mining.”
The price of bitcoin dropped about 5% in the first minutes after Musk’s announcement.
At that time, the company said it would start accepting bitcoin as a payment method for its products.
Support for cryptocurrency from Tesla contributed to the prices of cryptocurrencies, including bitcoin and dogecoin, skyrocketing in recent months.
Here was Musk’s full announcement:
Tesla launches its fastest car (video)125212.06.2021, 01:10
Elon Musk says Tesla eyeing Russia as a potential production hub101421.05.2021, 17:20
Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns112917.05.2021, 00:12
Apple reportedly approached Nissan about making an autonomous car together, but the talks collapsed after they clashed over branding213421.02.2021, 21:00
#Nissan Motor to close Avila plant, cut East Europe distribution channels in 2021190601.01.2021, 14:35
Tokyo flying car makes test flight with hopes of launch by 2023 (video)176230.08.2020, 17:15
Toyota announced a new crossover on a fresh teaser126107.07.2020, 22:35
#Volvo recalls more than 2 million cars over seat belt concerns130202.07.2020, 00:35