Bitcoin prices crash after Elon Musk's Tesla suspends bitcoin payments - News

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13/May/2021

Bitcoin prices have plummeted about 12% to less than $50,000 in the last 24 hours after Elon Musk's surprise reversal on accepting bitcoin payments for Tesla cars — CNN News Report

The Tesla's CEO and a vocal bitcoin advocate, said his company was suspending plans to accept the cryptocurrency as payment for electric vehicles, citing its "high environmental cost."

"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 said in a note posted on an online social media platform... edition.cnn.com

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