Why is Ethereum price falling?

Last month, Mr Musk tweeted that Tesla would no longer be accepting bitcoin as payment for its vehicles.

In a statement on Twitter, Mr Musk said: "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."

He added: "Cryptocurrency is a good idea... but this cannot come at great cost to the environment."

Mr Musk's announcement prompted a drop in cryptocurrency prices across the board.

Post a Comment