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Electric Vehicle Tesla announced on May 12, 2021 that it will end support for the purchase of its own electric vehicle using bitcoin, a cryptographic asset announced on March 24. The application period is only 49 days.
Tesla CEO Elon Musk tweeted on March 24 that he would be able to purchase Tesla electric cars using bitcoin. After 49 days, he posted a tweet of Tesla and Bitcoin, announcing that he would stop supporting the purchase of Bitcoin vehicles.
In a tweet, Tesla has stopped buying bitcoin vehicles, and the company is concerned that the use of fossil fuels for bitcoin mining and trading is rapidly increasing. Crypto assets are a good idea in many ways and believe that there is a future, but it puts a huge burden on the environment. Said that I can give. Tesla said it plans to use bitcoin trading as it stops selling bitcoins and turns mining and trading into more sustainable energy, and is considering introducing other crypto assets that can be traded on less than 1% bitcoin energy. It is explained that the reason for stopping bitcoin payment is consideration for the environment.
Bitcoin mining is known to consume enormous power, and according to an analysis of the University of Cambridge in the UK, the power consumption of bitcoin mining around the world is more than the power consumption of the Netherlands and the UAE. In addition, the price of bitcoin plummeted a few minutes after Tesla tweeted about canceling support for Bitcoin payments, CEO Elon Musk said. Of course, nonetheless, the price of $50,000 per BTC is 100 times the transaction price five years ago. Related information can be found here.
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