Musk decries bitcoin s insane energy use after Tesla payment U-turn
By Hyunjoo Jin and Subrat Patnaik
Reuters
(Reuters) -Tesla Inc boss Elon Musk on Thursday denounced the insane amount of energy used to produce bitcoin, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns.
Musk, one of bitcoin s most ardent backers, tweeted a graph of bitcoin s power consumption and said: Energy usage trend over past few months is insane. (https://bit.ly/33BYV8Z)
That followed his tweet from Wednesday saying Tesla would no longer accept the cryptocurrency as payment for its electric cars because it came at a great cost to the environment, an about-face from his stance in March.
Tesla s Musk reverses course on taking bitcoin, citing climate concerns
By Hyunjoo Jin and Kanishka Singh
Reuters
(Reuters) -Tesla Inc has suspended the use of bitcoin to purchase its vehicles because of climate concerns, Chief Executive Officer Elon Musk said in a tweet on Wednesday, reversing the company s stance in the face of an outcry from some environmentalists and investors.
Bitcoin, the world s biggest digital currency, fell more than 7% after the tweet and was trading at $52,669. Tesla Inc revealed in February it had bought $1.5 billion of bitcoin and would soon accept it as payment for cars, driving a roughly 20% surge in the world s most widely held cryptocurrency.
Elon Musk goes back on taking bitcoin for Tesla cars, cites climate concerns
Bitcoin, the world s biggest digital currency, fell more than 7% after the tweet and was trading at $52,669
Reuters | May 13, 2021 | Updated 08:17 IST
Tesla Inc has suspended the use of bitcoin to purchase its vehicles because of climate concerns, Chief Executive Officer Elon Musk said in a tweet on Wednesday, reversing the company s stance in the face of an outcry from some environmentalists and investors.
Bitcoin, the world s biggest digital currency, fell more than 7% after the tweet and was trading at $52,669. Tesla Inc revealed in February it had bought $1.5 billion of bitcoin, before it began accepting it as payment for cars in March, driving a roughly 20% surge in the world s most widely held cryptocurrency.