Tesla stops accepting Bitcoin due to environmental onenewspage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from onenewspage.com Daily Mail and Mail on Sunday newspapers.
The currency is an environmental abomination and investors should be pleased the founder has said so
Elon Muskâs talent for publicity has saved Tesla a fortune in advertising. Photograph: Brendan Smialowski/AFP/Getty
Elon Muskâs talent for publicity has saved Tesla a fortune in advertising. Photograph: Brendan Smialowski/AFP/Getty
Thu 13 May 2021 14.31 EDT
Last modified on Thu 13 May 2021 15.23 EDT
Elon Musk moves in mysterious ways, so it would be foolish to assume that his new sceptical stance on bitcoin will last longer than his previous cheerleading. But he has now landed on the right spot: bitcoin is an environmental abomination.
Article content
Tesla Inc. will no longer accept Bitcoin for car purchases, Chief Executive Elon Musk said on Wednesday, citing long-brewing environmental concerns for a swift reversal in the company’s position on the cryptocurrency.
Bitcoin fell more than 10 per cent after Musk tweeted his decision to suspend its use, less than two months after Tesla began accepting the world’s biggest digital currency for payment. Other cryptocurrencies, including ethereum, also fell before regaining some ground in Asia trade.
We apologize, but this video has failed to load.
Try refreshing your browser, or Elon Musk says Tesla will stop accepting Bitcoin over environmental concerns Back to video
Perhaps Buy Tesla Here, But I m Not Buying the Dip in Bitcoin Elon Musk does a number on bitcoin and he s not backing off. Stocks quotes in this article: COIN, TWTR, TSLA
Et tu Brute? To be honest, I have not been on the cryptocurrency bandwagon, outside of playing the miners and short-lived money losing adventure in Coinbase (COIN) as that name went public. I have been expecting an event that would draw in the values of most major cryptocurrencies. I expected that event to come in the form of tight regulation, directly from the Secretary of the Treasury. Janet Yellen for so long that I remember when her name was Jack Lew, and then Steven Mnuchin.