Bitcoin & Dogecoin drop after Elon Musk says you can no longer buy Tesla’s with cryptos

Jesse Williams

By Jesse Williams

Jesse Williams

13 May 2021

Elon Musk sent Bitcoin tumbling, announcing that his car manufacturer company Tesla would no longer accepting it for car purchases.

In a Twitter post Musk explained why his eco-friendly cards would no longer be available to purchase through crypto transactions – even though the company continues to hold the digital coin on its books. tratamento com ivermectina

Citing the environmental impact of Bitcoin mining, musk said the company would hold off on crypto transactions until it became more environmentally sustainable in line with the goals of Tesla.

“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,” Musk wrote. ivermectina de quanox

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment,” he added.

The announcement was felt industry wide with other crypto currencies like Litecoin and Ethereum feeling the backlash of the announcement.

What this really means for the crypto landscape is yet to be determined but will be interesting to watch nonetheless.