Tesla Suspends Bitcoin Purchases Says Musk

Elon Musk has announced Tesla no longer accepts bitcoin for payments just a month after the company began doing so. He said:

“Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.

Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”

Bitcoin’s price fell from about $55,000 to $51,600 on the tweet, with it somewhat recovering to $52,500.

Comments (2)

1. Roger V May 12, 2021 at 11:28 pm

   Hypocrite much – TSLA would not even survive if it did not sell all those environmental credits to other car companies so he is just passing the environmental buck there. Let’s also not forget the enormous amount of fossil fuels used to mine all the materials for those car batteries and gigabatteries> Nor does that include all the fuel used to power those Space-X flights or run the Boring Co’s machines. Oh and lest we forge all the fossil fuels required to mine materials and process them for all the solar cells for his solar company. For someone criticizing BTC’s environmental foot print and claiming to be “green” he sure is a pretty large polluter and there is also an enormous amount of hot air released every time this goof ball opens his trap.

   Leave a Reply

2. Ivor May 13, 2021 at 10:17 am

   Roger … do some research , EV, solar produce more power than they consume: fact, so carbon neutral .
   Learn about the details of the rocket fuel space x uses , mainly clean liquid oxygen and methane .. and Musks efforts to make the methane production carbon neutral have been widely publicised.
   Flacon 9 uses uses liquid Oxygen also and Kerosene … Musk wants falcon 9 replaced by Star ship as it going to be far more efficient and 100% reusable .
   Here’s a great explainer on the not so much pollution from rocket fuel
   Enjoy Roger
   https://youtu.be/C4VHfmiwuv4

   By the way , musk not wrong about Crypto mining – 75% of mining operations use cheaper renewable energy sources

   Leave a Reply