Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

Products You May Like

In this article

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.”

In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of Bitcoin and it may invest in more of Bitcoin or other crypto currencies in the future.

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 via tweet:

This is a developing story please check back for updates.


Products You May Like

Articles You May Like

Jeff Bezos’ Company Auctions Seat On Its First Crewed Space Mission For $28 Million
How Nationwide taps Kafka, MongoDB to guide financial decisions
Microsoft CEO Satya Nadella named chairman of the board
Apple Watch Series 7 Said to Be in the Works With Body Temperature, Blood Sugar Sensors
Kernel Helmet That Is Claimed to Read Human Mind Starts Shipping for $50,000 in US

Leave a Reply

Your email address will not be published. Required fields are marked *