Bad news for Bitcoin, now Tesla will not pay in Bitcoin – Elon Musk

Bad news for Bitcoin, now Tesla will not pay in Bitcoin – Elon Musk

Bad news for Bitcoin, now Tesla will not pay in Bitcoin – Elon Musk

Within three months, Elon Musk changed his mind and said that Tesla would no longer accept payments in bitcoin. Elon Musk has made a tweet about this decision.

According to this, fossil fuels (coal, petroleum, crude oil, natural gas) are being used heavily for bitcoin mining and transaction. Citing this as the reason, Musk has decided not to make a payment in cryptocurrency at the moment.

Musk said that the idea of ​​cryptocurrency is very brilliant and its future is also very bright. But it is having a very bad effect on our environment.

He said that –

  • Tesla will no longer sell cars in bitcoins. When cryptocurrency mining is based on sustainable energy, we will use it again.

  • Tthe company is considering a cryptocurrency that consumes less than 1 percent of the energy consumed in bitcoin mining.

Explain that in a regulatory filing in February 2021, Tesla said that it had bought a bitcoin of $ 1.5 billion. Apart from this, he also talked about taking payment in Bitcoin.

After Musk’s tweet, there is a huge drop in the price of Tesla.

At 12.15 in the morning, bitcoin was trading at the level of $ 51094 and it was seeing a decline of about 11 per cent. It is at an all-time high of $ 64829. In 2021, it has given more than a 75 per cent return.

Elon Musk organized a poll on his Twitter handle on 11 May. In this poll, he had asked whether Tesla should accept the dogecoin.

In this poll, 78.20 per cent of participants said that the company should accept the payment in the dogecoin, while 21.80 per cent of participant said that it should not accept the payment.

Dogecoin has been in the news for quite some time now. It is the fifth-largest cryptocurrency in terms of market cap. It is currently trading at a level of $ 0.43. In 2021, it has given a return of 9228 per cent so far.

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AUTHORNishant Chandravanshi

Nishant Chandravanshi is a YouTuber, Indian News Personality, Political Commentator & Activist. Nishant Chandravanshi is the founder of Chandravanshi & The Magadha Times.


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