Why Tesla Has Stopped To Accept Bitcoin? Elon Musk And Cryptocurrencies Connection
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Elon musk was one of the most influential person in the world according to Forbes last year. That is evident of the fires he fuels in the world of cryptocurrency. Elon has always been a strong supporter of Cryptocurrency and has been very vocal about it on his social media platforms. But a recent announcement made by Tesla and Elon musk have shook the world of cryptocurrency by surprise
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Tesla announcement in march that it would accept Bitcoin as a payment method was met with an outcry from some environmentalists and investors. The electric car company had revealed that it had purchased 1.5 billion dollars' worth of Bitcoin and Elon announced the companyβs plan to accept the currency. But on 13th of May, Musk wrote on twitter, βWe 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...
His tweets in recent months have turned Dogecoin into the worldβs fourth biggest cryptocurrency. But since his announcement, a lot of people have started making speculations that Tesla should have done a proper research in the case prior to buying bitcoins. But thatβs isn't the case, Tesla did a proper research before making such a decision.
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