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Tesla Suspends Acceptance Of Bitcoin Due To An Unsustainable Way To Receive This Cryptocurrency

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The price of bitcoin during the trading session fell by 15.29%, to $ 46.8 thousand after the announcement of Elon Musk about the suspension of the sale of Tesla electric vehicles for bitcoins.

Tesla Suspends Acceptance Of Bitcoin Due To An Unsustainable Way To Receive This Cryptocurrency

American electric vehicle manufacturer Tesla has suspended accepting bitcoins as a means of payment due to the non-environmentally friendly method of obtaining this cryptocurrency, said the head of the company Elon Musk.

“Tesla has suspended Bitcoin vehicle sales. We are concerned about the rapidly growing use of fossil fuels, especially coal, which has the worst emissions, for Bitcoin mining and transactions, ”Musk tweeted.

Until the mining of cryptocurrency is carried out using sustainable sources of energy, the company does not plan to sell its bitcoins and use them for operations as well.

Tesla authorized the sale of cars for bitcoins on March 24. This payment method was only available to customers in the United States, in other countries it was planned to introduce it later this year. Musk noted that the company will not convert the received cryptocurrency into fiat money.

In early February Tesla bought bitcoins for $ 1.5 billion. The company said it invested in this cryptocurrency for "more flexibility in further diversification and increased cash returns." Musk later called this decision recklessness. Tesla’s actions do not directly reflect his views, he said, but Bitcoin is “simply a less stupid form of liquidity than cash savings.”

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