Elon Musk and Tesla, executioners of bitcoin

The businessman sank the price of the cryptocurrency by announcing that his electric car company stops accepting it as a form of payment.

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The price of the Bitcoin, the reference cryptocurrency, plummeted about 15% on Wednesday after that Elon Musk announce that Tesla stop accepting bitcoins as a means of payment.

“Tesla has suspended bitcoin vehicle purchases. We are concerned about the increasing use of fossil fuels for the mining process of cryptocurrencies and bitcoin transactions, especially coal, which has the worst emissions of any fuel ”, announced the billionaire on his account Twitter late on Wednesday.

Elon MuskHowever, Musk assured in his message that “Tesla will not sell any bitcoin ”, underscoring that the company intends to continue using cryptocurrency in its transactions as soon as bitcoin mining activity has completed its transition to a more energy-sustainable model.

Also, the businessman announced that the company is paying attention to other cryptocurrencies that currently consume much less energy than bitcoin. "Cryptocurrencies are a good idea on many levels and we believe they have a promising future, but it cannot be at a higher cost to the environment", Anadio.

Musk's announcement comes just three months after the company revealed it had invested 1.500 million in bitcoin to enjoy "More flexibility" y "Diversify and maximize" the return on cash is not necessary to maintain adequate operating liquidity.

Bitcoin's reaction to the businessman's comment was immediate, closing Wednesday's session at U.S. dollar 49.150,4, about 15% below the maximum of U.S. dollar 57.939 that he had reached during the day.

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Automundo is the blog about news from the automotive industry, motorsport and the culture of the region. Director: Diego Durruty.

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