Tesla Will No Longer Accept Bitcoin For Purchasing Tesla Cars
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Tesla has suspended vehicle purchases using Bitcoin, due to environmental concerns. In the company statement, it is stated, in italics, below:
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.
In the video published on May 12, 2021, “ELON MUSK ANNOUNCES TESLA WILL STOP ACCEPTING BITCOIN FOR CAR PURCHASES | ticker NEWS“, below:
In the video published on May 13, 2021, “Tesla Stops Accepting Bitcoin As Payment“, below:
Tesla CEO Elon Musk said Wednesday on Twitter that Tesla has “suspended vehicle purchases using Bitcoin,” out of concern over “rapidly increasing use of fossil fuels for Bitcoin mining.” In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of Bitcoin and it may invest in more of Bitcoin or other crypto currencies in the future. At that time, the company said it would start accepting bitcoin as a payment method for its products. Support for cryptocurrency from Tesla contributed to the prices of cryptocurrencies, including bitcoin and dogecoin, skyrocketing in recent months, in the video published on May 12, 2021, “Elon Musk Abandons Bitcoin-Tesla No Longer Accepting Bitcoin (CRYPTO CRASH)“, below:
In the video published on May 13, 2021, “Musk says Tesla suspended bitcoin use, citing environmental impact“, below:
In the video published on May 6, 2021, “Why climate change could lead to a financial crisis (and what we can do about it) |CNBC Reports“, below:
It is estimated that Bitcoin alone could increase global temperatures by 2 degrees Celsius in 30 years. China has the most bitcoin mining of any country by far. As a result of Tesla’s suspending payments at Tesla using Bitcoin, the price of Bitcoin has dropped.
In the video published on May 13, 2021, “As much as $365 billion wiped off cryptocurrency market after Tesla stops“, below:
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com
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