Bitcoin slips below $50K after Elon Musk says Tesla won’t take it as payment The price of bitcoin fell below $50,000 Thursday morning after Tesla CEO Elon Musk tweeted a day earlier that the electric car maker would stop accepting the digital currency as payment for its vehicles. Musk cited environmental concerns for the change in policy. He also said that Tesla won’t be selling any of the Bitcoin it owns.Bitcoin slips below $50K after Elon Musk says Tesla won’t take it as payment Elon Musk tweets, dogecoin leaps, bitcoin retreats Bitcoin price was pinned near its lowest in more than two months while dogecoin price leapt by a fifth as tweets from Tesla boss Elon Musk sent the two cryptocurrency majors on a wild ride. Elon Musk sends Bitcoin tumbling with shock U-turn on payments
The largest cryptocurrency dropped as much as 15% in Asian trading, sliding below $50,000, before paring some of the drop. It was down about 8% to $50,190 as of 10:53 a.m. in Tokyo. The were reports of outages at digital-token exchanges as people rushed to sell. Elon Musk decries bitcoin’s ‘insane’ energy use after Tesla U-turn Elon Musk tweets a graph of bitcoin’s power consumption, saying “Energy usage trend over past few months is insane.” This, after he earlier said that Tesla will stop accepting bitcoin as payment for its electric cars. Tesla sold bitcoin to prove liquidity as cash alternative: Elon Musk
Tesla’s earnings report showed the firm generated $101 million in income from the sale. Where are Bitcoin & cryptocurrencies legal and where are they not? Most major international economies are still highly skeptical about cryptocurrencies. Since Bitcoin and others of its ilk have gradually started winning institutional endorsements, the regulatory hassles for cryptocurrencies have also increased. Bitcoin price tumbles, recoups after Elon Musk’s U-turn on Tesla payments Bitcoin price dropped from around $54,819 to $45,700, its lowest since March 1, in just under two hours following Elon Musk’s tweet that Tesla will stop accepting the world’s largest cryptocurrency for payments against its electric cars.
Elon Musk wants a greener bitcoin. Has he got a plan or a pipedream? Tesla can itself take an active role in helping make bitcoin greener by investing in new projects aimed at boosting the use of renewable energy in mining, experts say. View: Elon Musk conveniently ignored bitcoin’s inconvenient truth Cheap and abundant power is essential to crypto miners, with coal accounting for an estimated 38 per cent of their supply, according to the Cambridge Center for Alternative Finance.