environmental concerns, Based on environmental concerns, Tesla has now withdrawn the option to buy using Bitcoin.
They went on to say they won’t be selling any Bitcoin and intend to use it once a greener source of energy is implemented.
Interestingly, the firm also revealed it was looking at other, less intensive cryptocurrencies.
Whether that’s for a payment option or treasury asset is unknown at this time.
“Tesla WILL NOT BE SELLING ANY BITCOIN and we intend to use it transactions as soon as mining transitions to more sustainable energy.
We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.”
In response, Bitcoin-bull Anthony Pompliano pointed out that the majority of miners use renewable energy.
“Elon … you realize that 75% of miners use renewable energy, right?
This energy story has been debunked over and over again.“
The reason for this is simple economics.