Bitcoin Slides After Elon Musk Seems to Suggest Tesla Might Dump the Cryptocurrency

Credit: Upworthy- Published on May 16, 2021
In a Twitter exchange on Sunday, Musk appeared to agree with a user who implied Tesla will dump its bitcoin stake.

Video credit: Wibbitz Top Stories
Published on May 13, 2021 -  01:14
Tesla No Longer Accepting Bitcoin as Payment Due to Environmental Concerns
Tesla No Longer Accepting Bitcoin as Payment Due to Environmental Concerns. On May 12, Elon Musk announced that Tesla would no longer be accepting payments in the form of Bitcoin. . The Tesla CEO cited concerns over the โ€œrapidly increasing use of fossil fuelsโ€ to mine Bitcoin. 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. , Elon Musk, via Twitter. Musk went on to reiterate his support for cryptocurrency, saying it has a โ€œpromising future.โ€ . Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment, Elon Musk, via Twitter. He then confirmed that Tesla would not be selling off the Bitcoin it holds. We intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use

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