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TESLA-BITCOIN/MUSK (UPDATE 3, PIX, TV, GRAPHIC):UPDATE 3-Tesla's Musk reverses course on taking bitcoin, citing climate concerns

Tesla's Musk reverses course on taking bitcoin, citing climate concerns By Hyunjoo Jin and Kanishka Singh Reuters (Reuters) -Tesla Inc has suspended the use of bitcoin to purchase its vehicles because of climate concerns, Chief Executive Officer Elon Musk said in a tweet on Wednesday, reversing the company's stance in the face of an outcry from some environmentalists and investors. Bitcoin, the world's biggest digital currency, fell more than 7% after the tweet and was trading at $52,669. Tesla Inc revealed in February it had bought $1.5 billion of bitcoin and would soon accept it as payment...

Elon Musk goes back on taking bitcoin for Tesla cars, cites climate concerns Bitcoin, the world's biggest digital currency, fell more than 7% after the tweet and was trading at $52,669 Reuters | May 13, 2021 | Updated 08:17 IST Tesla Inc has suspended the use of bitcoin to purchase its vehicles because of climate concerns, Chief Executive Officer Elon Musk said in a tweet on Wednesday, reversing the company's stance in the face of an outcry from some environmentalists and investors. Bitcoin, the world's biggest digital currency, fell more than 7% after the tweet and was trading at $52,669. ...

Citing climate concerns.

Thursday, 13 May 2021 08:19 PM MYT Elon Musk speaks at a news conference at the Kennedy Space Center in Cape Canaveral, Florida March 2, 2019. — Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. SAN FRANCISCO, May 13 — Tesla Inc boss Elon Musk denounced the “insane” amount of energy used to produce bitcoin today, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns. Bitcoin fell more than 10 per cent after Musk, one of its most famous backers, tweeted his decision to suspend its use, ...