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Bitcoin PLUNGES 12% After Elon Musk Says Tesla Will Stop Accepting The Coin, Wipes $365 Billion Off Cryptocurrency Market

Ian Haworth
Bitcoin PLUNGES 12% After Elon Musk Says Tesla Will Stop Accepting The Coin, Wipes $365 Billion Off Cryptocurrency Market
Visual China Group via Getty Images

Tesla CEO Elon Musk announced Wednesday that the electronic car company would suspend vehicle purchases with Bitcoin, citing concern over “rapidly increasing use of fossil fuels for Bitcoin mining.”

“Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” wrote Musk.

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