The cryptocurrency cut $ 2,000 in value after the announcement.
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May
12, 2021
2 min read
Automotive company Tesla will stop accepting Bitcoin transactions due to the huge impact that virtual currency mining has on the environment. This was reported by its co-founder Elon Musk on his Twitter account this Wednesday.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
– Elon Musk (@elonmusk) May 12, 2021
” Tesla has suspended the purchase of vehicles with Bitcoin. We are concerned about the increasing use of fuels and non-renewable energy for transactions and mining.
Especially coal, which has the highest amount of polluting emissions into the atmosphere. Cryptocurrencies are a good idea on many levels, but their future shouldn’t mean a huge negative impact on the environment.
Tesla will stop selling its Bitcoin and will be used for transactions as soon as its mining transitions to the use of renewable energy. We are also studying the use of cryptocurrencies that use less than 1% of the energy that Bitcoin requires, “says Musk’s tweet in English.
Until a few hours ago, the Tesla page offered the option to purchase the vehicles on its website, but the link has disappeared.
The message has impacted the price of Bitcoin. According to Market Watch , the cryptocurrency contracted $ 2,000, while Tesla shares fell about 1% in after-hours trading after the announcement.