How Bitcoin Uses Fossil Fuels As Elon Musk Says Tesla No Longer Accepting the Crypto
On 5/13/21 at 5:21 AM EDT
Tesla CEO Elon Musk has announced that the company will no longer allow customers to pay for cars with bitcoin because of concerns about the cryptocurrency's links with fossil fuels.
In a tweet on Wednesday, Musk, who is also the CEO of SpaceX, wrote that his electric car company had taken the decision in response to the "rapidly increasing use of fossil fuels for bitcoin mining and transactions." Mining is the term used to describe how new coins are brought into circulation.