If there’s one man that’s always in the news, it’s Elon Musk. By design or mistake, the multi-billionaire makes headlines consistently. On Wednesday last week, he announced that leading electric automobile company, Tesla, would no longer accept bitcoin as payment for its automobiles, citing concerns that the cryptocurrency utilizes fossil fuels for its mining.
According to Musk, “
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.” He further stated that the company was looking at other cryptocurrencies that use less energy and contribute less to carbon emissions.