Elon Musk has just made an announcement, Tesla will ‘pause the purchase of cars with Bitcoin’.
In a recent announcement on Twitter, billionaire Elon Musk and Tesla CEO said that Tesla has stopped accepting users to buy its electric cars with Bitcoin.
Explaining his decision, Elon Musk expressed concern that “the use of fossil fuels for Bitcoin mining is rapidly increasing.” Elon Musk has just announced, Tesla will “pause buying cars with Bitcoin”, because of concerns that the use of fossil fuels to mine Bitcoin is increasing rapidly. (Photo: Canva) “Tesla has stopped accepting car purchases with Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and trading, especially coal. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but that cannot come at a cost to the environment. Tesla will not sell any Bitcoin and we plan to use it for transactions as soon as we transition mining to more sustainable energy,” Elon Musk wrote on Twitter. The recent announcement of billionaire Elon Musk on Twitter. (Screenshots) After Elon Musk’s announcement, the cryptocurrency market quickly “red” when the price of Bitcoin plunged below the $50,000 mark, losing more than 12% in the last 24 hours. Bitcoin price this morning, this coin previously dropped below $47,000 after Elon Musk’s announcement. (Photo: CoinMarketCap) Elon Musk’s decision is completely opposite to what this billionaire has previously stated. In early February, Tesla announced that it had spent $1.5 billion to buy Bitcoin, as well as saying that it could invest in a number of other digital currencies in the future. (Photo: Daniel Oberhaus (2018) / Protocol) In addition, Tesla also announced that it will soon let users use Bitcoin to buy its cars. By the end of March, Elon Musk announced that users in the US could buy Tesla cars with Bitcoin.
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