Tesla has stopped accepting Bitcoin for vehicle purchases
Tesla has 'suspended vehicle purchases using Bitcoin'.
Just last week, Elon Musk said Tesla will be accepting Bitcoin as a form of payment when purchasing a new car. However yesterday, Musk tweeted saying Tesla has "suspended vehicle purchases using bitcoin" due to "rapidly increasing use of fossil fuels for bitcoin mining."
In the tweet it said, "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."
Minutes after Musk's announcement, the price of Bitcoin dropped about 5 percent which shows just how manipulative the market can be.
The reason Tesla started accepting Bitcoin as a form of payment in the first place was because back in February, they bought $1.5 billion worth of the cryptocurrency and said they saw a future in it and as a new way of purchasing cars and other expensive goods.
It is unknown as to what Tesla and Elon Musk's next move will be, but perhaps they will reevaluate or never go back to Bitcoin ever again.