Tesla CEO, Elon Musk has announced that Electric auto Company, Tesla would no longer be accepting the foremost cryptocurrency, Bitcoin as a means of payment to purchase Tesla cars, OYOGist.com reports.
The CEO stated that the high fossil fuel that mining BTC consumes informed the decision to halt the decision to accept the cryptocurrency as a means of exchange for the cars. He however clarified that the company would not be selling off any of its current BTC holdings.
He further stated that, while cryptocurrencies are a good idea, they should not come at a cost to the planet. Tesla will be looking at other cryptocurrencies that consume less than 1% of bitcoin’s energy/transaction.
OYOGist.com recalls that Elon Musk announced March on Twitter that his company, Tesla would start accepting Bitcoin as means of payment for Tesla cars. And just a day ago, he also posted a poll on Twitter asking his followers if Tesla should start accepting popular meme coin, Doge.
Follow OYOGist.com on Twitter.
