Tesla stops accepting Bitcoin due to its immense negative impact on the environment

Tesla stop accepting Bitcoin as a form of payment for your vehicles. The change has taken some people who were trying to make payment using cryptocurrency by surprise. The option has simply disappeared from the company’s website, without any explanation.

Also, since Tesla the entire public relations team in the United States was dismissed so these changes, except that Elon musk post on Twitter, they are left without context. And so it was for the first few minutes. But the CEO of the company has explained why he made the decision in an unusual statement published on the social network.

Tesla has suspended the purchase of vehicles using Bitcoin. We are concerned about the increase in the use of fuels and non-renewable energies for carrying out transactions and mining. Especially coal, which has the highest amount of polluting emissions into the atmosphere.

Cryptocurrencies are a good idea on many levels, but their future should not mean a huge negative impact on the environment.

Tesla will stop selling its Bitcoin and will be used for transactions as soon as its mining transitions to the use of renewable energy. We are also studying the use of cryptocurrencies that use less than 1% of the energy that Bitcoin requires.

Tesla announced that it would begin accepting Bitcoin as a form of payment for its vehicles on March 24. The adoption of the cryptocurrency brought him about $ 100 million during the last quarter. Shortly after, they claimed that their investment was already worth $ 2.48 billion.

Bitcoin in its current state goes against Tesla principles

Mission of Tesla is to accelerate the transition to renewable energy and Bitcoin, which currently demands more energy than all that Argentina uses for a year, goes against that principle.

In addition, many of the mining farms for cryptocurrency are done in regions where energy is especially cheap, usually in developing countries, where it will be a long time before they adopt electricity generation through renewable sources.

The cheaper the energy used to mine, the higher the profit margin, so it is unlikely that Bitcoin will use renewable sources in the near future. Elon Musk has hinted that he is studying launching his own cryptocurrency, it could be a solution. A few days before making this decision, the CEO of Tesla did a poll on Twitter asking if there are people interested in buying company vehicles using Dogecoin.

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