Tesla stops accepting bitcoin for electric cars in a U-turn that sends cryptocurrency prices plunging

//Tesla stops accepting bitcoin for electric cars in a U-turn that sends cryptocurrency prices plunging

Tesla stops accepting bitcoin for electric cars in a U-turn that sends cryptocurrency prices plunging

Tesla has ended its flirtation with cryptocurrencies, reversing its March 24 announcement to accept payments made in bitcoin for its electric vehicles, in an abrupt U-turn that sent the prices of the largest token tumbling on global exchanges.In an announcement made via Twitter, Tesla’s chief executive Elon Musk cited the “increasing use of fossil fuels … especially coal,” involved in bitcoin mining and transactions as the reason for his decision.“Cryptocurrency is a good idea on many levels,…

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By | 2021-05-13T02:49:20+00:00 May 13th, 2021|Technology|Comments Off on Tesla stops accepting bitcoin for electric cars in a U-turn that sends cryptocurrency prices plunging