Will crypto recover? Tokens CRASH - Bitcoin, Ethereum and Dogecoin down a third in one day

Tesla CEO Elon Musk sparked a sudden fall in Bitcoin price earlier this month, after he revealed that the car manufacturer wouldn't be accepting the crypto as a form of payment anymore.

At the time, he said: "Tesla has suspended vehicle purchasing using Bitcoin.

"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. "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.

"Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.

"We are also looking at other cryptocurrencies that use <1 percent of bitcoin's energy/transaction."

Post a Comment