Tesla won’t allow Bitcoin payments on cars anymore due to the negative impact on the environment from mining

Tesla won’t allow Bitcoin payments on cars anymore due to the negative impact on the environment from mining

Tesla has suspended vehicle purchases made using Bitcoin, according to a tweet from CEO Elon Musk. "We are concerned about the 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 tweet sent Wednesday. Tesla reported buying $1.5 billion worth of in February. The electric car maker will not sell Bitcoin, but intends to use the digital currency for transactions as soon as "mining transitions to more sustainable energy." Musk has personally supported investment in cryptocurrencies like Bitcoin and Dogecoin. Cambridge reported Bitcoin's energy consumption — which is according to one measure — since the beginning of 2020. "Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment," Musk stated.