Elon Musk stops selling Tesla cars in Bitcoin due to Environmental concern

Tesla CEO Elon Musk announced that the company has stopped accepting Bitcoin as payment for its electric cars. The official reason is concerns about environmental impact.

This development seems rather strange considering that the company began accepting bitcoins as a payment method along with traditional payment options for its cars literally at the end of March.

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The company will start accepting Bitcoin payments again as soon as the Bitcoin mining process “moves to a more sustainable energy”, according to the released statement. Elon Musk adds that the company is also “exploring other cryptocurrencies that use <1% of bitcoin’s energy/transaction.”

Along with this, Elon Musk also stated that the company will no longer sell bitcoins from the accumulation of about $ 1.5 billion made earlier this year.

Tesla previously sold some of these bitcoins in the first quarter of this year, helping the company post quarterly earnings. Bitcoin has dropped below the $ 50,000 mark this week.


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