Tesla Discontinues Acceptance of Bitcoin Payments for Vehicles
Billionaire CEO of Tesla, Elon Musk, has announced via a Twitter post that Bitcoin (BTC) payments will no longer get accepted by the behemoth electric vehicle manufacturer for its vehicles.
In a tweet published yesterday, Musk cited Bitcoin’s immense energy consumption as the reason for the payment suspension.
Tesla announced in February that it purchased $1.5 billion worth of BTC and hinted at the possibility of Bitcoin payments for its vehicles. The company followed through with its promise in March when it revealed that customers could make payments for vehicles using BTC.
However, Tesla’s decision to accept Bitcoin ignited significant criticism from environmental conservationists who argued that the move was contradictory to the electric vehicle company’s obvious stance to...
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