Page 4 - Ben Dear News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Reuters) — Tesla Inc boss Elon Musk denounced the “insane” amount of energy used to produce bitcoin on Thursday, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns. Bitcoin fell more than 10% after Musk, one of its most famous backers, tweeted his decision to suspend its use, less than two months after Tesla began accepting it as payment for its electric cars. Other cryptocurrencies, including ethereum, also fell before regaining some ground in Asian trade. "Cryptocurrency is a good idea on many levels and we believe i...

Tesla 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 per cent after the tweet and was trading at $52,669. Tesla revealed in February it had bought $1.5 billion of bitcoin and would soon accept it as payment for cars, driving a roughly 20 per cent surge in the world’s most widely held cryptocurrency. Musk on Wednesday said ...

Musk slams Bitcoin's 'insane' power usage 2021-05-14 HKT 04:44 Share this story Tesla boss Elon Musk has changed his stance on bitcoin. Critics have expressed concern about the energy-intensive process in which bitcoin is created. File photo: AP Tesla boss Elon Musk on Thursday denounced the "insane" amount of energy used to produce bitcoin, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns. Musk, one of bitcoin's most ardent backers, tweeted a graph of Bitcoin's power consumption and said: "Energy usage trend over past...

PALO ALTO: Tesla 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 revealed in February it had bought $1.5 billion of bitcoin, before it began accepting it as payment for cars in March, driving a roughly 20% surge in the world's most widely held cryptocurrency. Musk on Wednesday sa...

Musk suspends Tesla purchases using bitcoin, citing climate concerns May 13, 2021 9:26 AM PHT 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, before it began accepting it as payment for cars in Mar...