Musk’s announcement on Wednesday again surprised the cryptocurrency market after a few months ago Tesla reported that it would accept bitcoin as a means of payment for the purchase of electric vehicles
Photo: FREDERIC J. BROWN / AFP / Getty Images
Tuesday, November 26
Elon Musk announces on Twitter that Tesla will stop accepting bitcoin as cryptocurrency plummets more than 5%
Elon Musk , the CEO of Tesla , said Wednesday that his company will stop accepting the bitcoin as an exchange measure for the purchase of cars due to the environmental impact generated by the cryptocurrency.
The announcement comes three months after Musk surprised by saying that his company would allow customers to pay for their electric vehicles with bitcoin in addition to announcing that Tesla had invested $ 1, 500 million dollars in cryptocurrency.
This Wednesday Musk wrote on his Twitter account that “mining “That uses cryptocurrency requires the use of powerful computers to solve mathematical problems and for such a process significant amount of electrical energy .
“We are concerned about the rapid increase in the use of fossil fuels for mining and bitcoin transactions,” he explained. Musk in a tweet, “especially coal, which has the worst emissions of any fuel.”
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
– Elon Musk (@elonmusk) May 12, 2021
After Musk’s Tweet the price of bitcoin fell by about 5% to $ 51 , 847 dollars, a price that continues to be ho n times higher than five years ago.
“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this may not come at a great cost to the environment , “Musk wrote on Twitter.
Musk also added that the company is open to the use of other cryptocurrencies with minor energy impacts for the environment . Just this Tuesday the second richest person on the planet asked via Twitter if Tesla should accept the dogecoin for car purchase electrical .
Related: Dogecoin crashes as Elon Musk reveals on Saturday Night Live that he has Asperger syndrome
From the beginning Tesla was criticized for adopting a cryptocurrency with a significant carbon footprint, even though Musk has said that Tesla has the goal of fighting the climate change.
Bitcoin enthusiasts point out that renewable energy could power the mining process of cryptocurrency
The announcement comes just days after Musk also caused a crash of the dogecoin after joking about “his favorite cryptocurrency” during the opening monologue of the program Saturday Night Live to which he was invited as driver last weekend.
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