/ world today news/ Tesla CEO Elon Musk wrote on Twitter that he is temporarily suspending the sale of his electric vehicles for bitcoins, the production of which is harmful to the environment due to the use of large amounts of electricity produced from fossil fuels. Such an unexpected statement by the billionaire, who previously actively supported the cryptocurrency, led to a sharp drop in its value, writes The Independent.
Elon Musk has announced that his company Tesla has stopped using bitcoin as a means of purchasing its cars due to environmental pollution, reports The Independent. This statement caused the cryptocurrency, which was currently the ninth most valuable asset in the world, to crash, but its “production” now requires as much energy as the consumption of all of Argentina.
„Tesla halted vehicle sales using Bitcoin“, the head of the company wrote on Twitter. “We are concerned about the rapid growth in the use of fossil fuels, especially coal, which has the worst emissions of all fuels, to mine Bitcoin and for transactions.”
Musk also added that “cryptocurrency is a good idea” and believes in her “light future” but cannot “it costs so much expensive for environment“. Immediately after the Tesla CEO’s tweet, the price of Bitcoin fell from its one-day high of £39k to £37.19k.
The British newspaper notes that such a statement by Musk is “unexpected newspaper“: throughout the year, the head of the company for the production of electric vehicles actively supported the cryptocurrency. So, in March, he announced on Twitter that now an electric car Tesla can be bought for bitcoins.
At the same time, the head of the company clarified that the received cryptocurrency will not be converted into dollars or other paper currency. Earlier in January, Elon Musk endorsed Bitcoin and added the word #bitcoin to his Twitter feed description, accompanying it with a special symbol.
After this statement, the value of the digital currency fluctuated between 30 to 40 thousand dollars, and in March it reached $ 57 thousand. In this way, Tesla earned between 630 million and 1.35 billion dollars from its investments.
Musk’s new tweets will not be welcomed by Bitcoin supporters, especially because of their impact on Bitcoin’s value. This is not the first time the Tesla chief has been criticized for the financial implications of his statements on the microblogging platform, notes The Independent.
In 2018, the US Securities and Exchange Commission forced him to step down as chairman of the board of directors after investors did not appreciate his joking tweets about the company’s bankruptcy.
Translation: ES
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