Tesla stops accepting bitcoin for electric cars in an abrupt U-turn on flirting with cryptocurrency

Source: South China Morning PostTesla has ended its flirtation with cryptocurrencies, reversing its March 24 announcement to accept payments made in bitcoin for its electric vehicles, in an abrupt U-turn that sent the prices of the largest token tumbling on global exchanges.In an announcement made via Twitter, Tesla’s chief executive Elon Musk cited the “increasing use of fossil fuels … especially coal,” involved in bitcoin mining and transactions as the reason for his decision.“Cryptocurrency is a good idea on many levels,…Read More

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