Tesla No Longer Accepting<br />Bitcoin as Payment Due to<br />Environmental Concerns.<br />On May 12, Elon Musk announced that Tesla would no<br />longer be accepting payments in the form of Bitcoin. .<br />The Tesla CEO cited<br />concerns over the<br />“rapidly increasing<br />use of fossil fuels”<br />to mine Bitcoin.<br />Tesla has suspended vehicle purchases<br />using Bitcoin. We are concerned about<br />rapidly increasing use of fossil fuels<br />for Bitcoin mining and transactions,<br />especially coal, which has the worst<br />emissions of any fuel. , Elon Musk, via Twitter.<br />Musk went on to reiterate his support for cryptocurrency,<br />saying it has a “promising future.” .<br />Cryptocurrency is a good idea on<br />many levels and we believe it has a<br />promising future, but this cannot come<br />at great cost to the environment, Elon Musk, via Twitter.<br />He then confirmed that Tesla would <br />not be selling off the Bitcoin it holds.<br />We intend to use it for transactions as<br />soon as mining transitions to more<br />sustainable energy. We are also looking<br />at other cryptocurrencies that use
