05/13/2021 at 12:33 PM CEST
Makes only a few weeks after Tesla started accepting Bitcoin as currency for its cars, now Elon Musk has announced in a tweet, that he will suspend this initiative. According to the tycoon’s post, the company is “concerned about the rapid increase in the use of fossil fuels for Bitcoin mining and transactions.”
Tesla does not seem to have a press department, since Elon Musk promised that he would cease to be the head of his companies to cede it to the companies themselves, but he continues to do “politics” through Twitter.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
– Elon Musk (@elonmusk) May 12, 2021
Thus, the businessman explained that “Tesla has suspended the sale of vehicles using Bitcoin. We are concerned about the rapid increase in fossil fuels for mining and transactions, especially coal, which emits worse emissions than any fuel. Cryptocurrencies are a good thing. idea on many levels, and we believe they have a promising future, but this cannot come at a great cost to the environment. ” He went on to explain that “Tesla will not sell its cars with Bitcoin as a currency until the mining transition is more sustainable. Furthermore, we are studying the use of other cryptocurrencies that use less energy for mining and trading.”
Without specifying which currency it refers to, the company is looking for another cryptocurrency, which could be the Dogecoin, Musk’s new favorite coin and which has already been incorporated into their plans at SpaceX.