Tesla Stops Accepting Bitcoin as its payment for the Tesla EV’s — MOMO

EV’s Well EV industry Revolutioner now backing off from the Bitcoin

Now the Tesla CEO Elon Musk is Back off from Bitcoin and stops it as the payment method for purchasing Tesla EV’s. Having a fond of cryptocurrency for a long time, he hit a brick in the head for all Crypto-Miners and traders because the Elon musk tweet has quite an amount of punch cryptocurrency industry.

He Tweeted, “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment,.”He also stated, “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.” Mr. Musk also said on Wednesday that Tesla was “looking at other cryptocurrencies” that use a fraction of the energy consumed by Bitcoin.

“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy,” Mr. Musk wrote on Wednesday, referring to the process through which new Bitcoin is created.”Unfortunately, Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing,” Quoted by Bill Gates in February.

Originally published at https://monitortomouse.com on May 14, 2021.