Tesla stops Bitcoin payments for its cars, highlights environmental harm from Bitcoin mining

Tesla has suspended the use of Bitcoin for the sale of its electric vehicles due to the environmental impact of Bitcoin mining. The company says that it is looking at other cryptocurrencies that are environmental-friendly as an alternative.

Tesla has suspended the use of Bitcoin for the purchase of its cars. The update has been shared by Tesla CEO Elon Musk, just over a month after the US-based electric vehicle started accepting Bitcoin as a payment option. In a statement shared by Musk on Twitter on Wednesday, the company cites environmental reasons for stopping Bitcoin payments. As a result, it will no longer accept cryptocurrency as payment for Tesla cars.