Tesla has suspended customers’ use of bitcoin to purchase its vehicles, Elon Musk said on Wednesday, citing concerns about the use of fossil fuel for bitcoin mining.
Bitcoin, the world’s biggest digital currency, fell almost 17% after the tweet to its lowest point since the beginning of March. It recovered slightly in Asian trading but was still off 12% at $50,933 early on Thursday morning.
Musk said Tesla would not sell any bitcoin, and intends to use bitcoin for transactions as soon as mining transitions to more sustainable energy.
“We are also looking at other cryptocurrencies that use <1% of bitcoin’s energy/transaction,” Musk said.
Musk said in March that Tesla customers can buy its electric vehicles with bitcoin. » | Reuters | Thursday, May 13, 2021
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