Musk’s U-turn sends bitcoin tumbling
The cryptocurrency fell as much as 15% on Wednesday after the Tesla CEO cited environmental concerns
13 May 2021 - 09:13
Houston/New York — Tesla CEO Elon Musk said the electric-vehicle manufacturer is suspending purchases using bitcoin, triggering a slide in the digital currency.
In a post on Twitter Wednesday, Musk cited concerns about “rapidly increasing use of fossil fuels for bitcoin mining and transactions”, while signalling that Tesla might accept other cryptocurrencies if they are much less energy intensive. He also said the company won’t be selling any of the bitcoin it holds...
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