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Tesla stops accepting bitcoin as Musk decries its insane energy use
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Elon Musk decries bitcoin s insane energy use after Tesla payment U-turn
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Thursday, 13 May 2021 08:19 PM MYT
Elon Musk speaks at a news conference at the Kennedy Space Center in Cape Canaveral, Florida March 2, 2019. Reuters pic
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SAN FRANCISCO, May 13 Tesla Inc boss Elon Musk denounced the “insane” amount of energy used to produce bitcoin today, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns.
Bitcoin fell more than 10 per cent after Musk, one of its most famous backers, tweeted his decision to suspend its use, less than two months after Tesla began accepting it as payment for its electric cars. Other cryptocurrencies, including ethereum, also fell before regaining some ground in Asian trade.
UPDATE 3-Musk decries bitcoin s insane energy use after Tesla payment U-turn Reuters 3 hrs ago Musk denounces amount of energy used to produce bitcoin
Popular Searches Tesla investor welcomes billionaire s sudden U-turn Musk announcement triggers tumble in cryptocurrencies Tesla will retain bitcoin holdings (Adds investor comments and related story links)
By Hyunjoo Jin and Subrat Patnaik
May 13 (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)
Elon Musk decries bitcoin s insane energy use after Tesla U-turn
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Elon Musk decries bitcoin s insane energy use after Tesla U-turnBy Hyunjoo Jin & Subrat Patnaik, Reuters
Last Updated: May 13, 2021, 08:09 PM IST
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Synopsis
Elon Musk tweets a graph of bitcoin s power consumption, saying Energy usage trend over past few months is insane. This, after he earlier said that Tesla will stop accepting bitcoin as payment for its electric cars.
AP
Elon Musk, CEO of Tesla Inc. and founder of SpaceX, Neuralink and The Boring Co.
Berkeley | Bengaluru:Tesla Inc. boss Elon Musk denounced the insane amount of energy used to produce bitcoin on Thursday, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns.
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