This morning, Elon Musk tweeted that Tesla will no longer accept Bitcoin. In March 2021, Elon Musk announced that people would be able to buy Tesla with
But this morning Elon Musk said in a tweet that the Bitcoin A miner consumes a lot of fossil fuels and it costs a lot of the environment. According to him, although cryptocurrency is a very good invention, it is not reasonable to use it to the detriment of the environment. Elon Musk tweeted that about 75% of bitcoin miners use renewable energy. However, Elon Musk said they were considering another cryptocurrency. Tesla is looking for a cryptocurrency that consumes 1% or less of the energy consumed in Bitcoin.
With this tweet from Elon Musk, the price of Bitcoin has started falling, which has come down to around $49,000 and is currently recovering at $50,000. As a result, the price of almost all altcoins has dropped, leaving the market capitalization down by about 16%, to a total of 2.06 trillion.