Today, May 13, Tesla CEO Elon Musk informed that the company is no longer allowing payments in Bitcoin. In the tweet posted by Musk, he mentioned that the reason is BTC's using a large amount of energy which is bad for the surroundings.
Related: Tesla Benefits $272 M Selling 10% of Its Bitcoins
When the coin starts using more environment-friendly energy, Tesla may resume its operations. Till then it won't sell any BItcoin. Musk also mentioned they are looking for other cryptocurrencies that use considerably lower energy.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
After the news went public the BTC price dropped sharply. Currently, it trades at around $50.600.
Tesla announced allowing Bitcoin payments on March 24 this year. Earlier, in February the company invested $1.5 B in the cryptocurrency. However, in April it sold 10% of the acquired amount.