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Tesla has suspended the use of Bitcoin for its purchase, Learn why

By Team Tech Outlook Published on May 13, 2021, 03:45 IST

Alot of people were happy with the announcement when Tesla and Elon Musk came forward with the news that Tesla can be bought via Bitcoin and that changed everything. People saw a sudden increase or surge in the price of bitcoin.

However today Elon Musk camne with somewhat a bad news that Tesla will not accept bitcoin as a method of payment for the pourchase of its vehicles. Elon Musk shared that as bitcoin uses fossil fuel for its mining and as he wants less of fossil fuel to be used therefore they have stopped bitcoin as a method of payment.

Elon Musk tweeted

Tesla & Bitcoin pic.twitter.com/YSswJmVZhP

— Elon Musk (@elonmusk) May 12, 2021

This is not the first time when a big news like this has broken out, now we just have to see how bitcoin is going to react to this.

Tesla Bitcoin payment

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