Tesla suspended sales of its electric cars for bitcoins

U.S. company Tesla is suspending the acceptance of bitcoin as a means of payment for its cars because of the unenvironmental way of obtaining the cryptocurrency, the head of the company, Elon Musk, said on Thursday, May 13, in his Twitter.

“We are concerned about the rapidly increasing use of fossil fuels, especially coal, which has the worst emissions, to mine and transact bitcoin,” Musk wrote.

He also noted that Tesla will not sell its own bitcoins until they are mined using sustainable energy sources.

Musk stressed that cryptocurrencies have a promising future, while in his opinion, their development should not be allowed to take place at the expense of “a huge cost to the environment.”

On February 20, the head of Tesla called the current prices of bitcoin and Etherium cryptocurrencies inflated. Cryptocurrency, explained Musk, like ordinary money, is a set of data to avoid the inconvenience of barter exchange. In addition, the businessman noted that cryptocurrency, like any data system, is subject to late responses and errors.