Open Demo Account
Home / Market Update / Cryptocurrency / Bitcoin Drops More Than 13% After Tesla Stopped Accepting it to Buy Its Cars
Bitcoin
Bitcoin

Bitcoin Drops More Than 13% After Tesla Stopped Accepting it to Buy Its Cars

Adel 14 May, 2021 10:53 am Cryptocurrency, Market Update

Bitcoin fell more than 13% to trade at the $49,000 level after Elonmask announced that Tesla had stopped selling cars using the Bitcoin.

CEO Elon Musk said in a tweet that Tesla has Accepting bitcoin in buying cars, fearing an increase in the use of fossil fuels in coin mining.

And in February, Tesla revealed that it bought $1.5 billion worth of Bitcoin and may invest in more Bitcoin or other cryptocurrencies in the future.

Musk said Tesla will keep the Bitcoin it already owns instead of selling it and will look to accept other cryptocurrencies that require less mining energy to buy the company’s cars.

Tags

Check Also

European Stocks Retreat as Post-Election Rally Fades, Inflation Data Awaited

European stocks experienced a decline on Tuesday, reaching a two-week low as the initial relief …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends