WASHINGTON (Sputnik) – US entrepreneur Elon Musk introduced that Tesla has stopped accepting Bitcoin as fee for electrical automobiles over considerations concerning the hostile environmental impression of mining the cryptocurrency.
“Tesla has suspended vehicle purchases using Bitcoin. 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,” Musk stated through Twitter on Wednesday.
Musk added that he’s different cryptocurrencies that use lower than one % of “Bitcoin’s energy/transaction.”
He has been, over the previous few months, pushing Bitcoin because it has hit its peak worth. Tesla had beforehand purchased $1.5 billion price of the cryptocurrency, dubbed “One Coin to Rule Them All” by its founder, a reference to the “Lord of the Rings” saga.