After months of hyping bitcoin, Elon Musk suddenly says Tesla will stop accepting it
CNN
Elon Musk says Tesla is abandoning plans to accept bitcoin as payment for the company's electric vehicles, citing the cryptocurrency's high environmental cost after months of being bullish on it.
"We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Musk said in a note posted on Twitter Wednesday. "Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment." Tesla did not immediately respond to questions regarding the move, including how many vehicles have been purchased with bitcoin and whether Musk was previously unaware of its environmental impact.
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