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Musk Puts Bitcoin on Pause, Tesla Suspends BTC Payments
 30 days ago

Cover picture for the articleElon Musk revealed on Twitter that Tesla would pause accepting bitcoin as payment for its product as a consequence of its high energy consumption. Tesla CEO Elon Musk has roiled the crypto markets after announcing that Tesla would stop accepting bitcoin as payment for its vehicles. The reason cited was that bitcoin mining consumed far too much energy and was damaging the environment. The market responded by turning red, with bitcoin dropping around 16% in just a few hours.