In a tweet today, Tesla CEO Elon Musk said the company will no longer accept Bitcoin as payment, citing its energy expenditure.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Tesla began accepting BTC as payment earlier this year, after a $1.5 billion investment in the coin.
According to Musk, “Tesla will not be selling an Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.”
This article is being updated.