Tesla No Longer Accepting
Bitcoin as Payment Due to
Environmental Concerns.
On May 12, Elon Musk announced that Tesla would no
longer be accepting payments in the form of Bitcoin. .
The Tesla CEO cited
concerns over the
“rapidly increasing
use of fossil fuels”
to mine Bitcoin.
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. , Elon Musk, via Twitter.
Musk went on to reiterate his support for cryptocurrency,
saying it has a “promising future.” .
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, Elon Musk, via Twitter.
He then confirmed that Tesla would
not be selling off the Bitcoin it holds.
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