Tesla Bitcoin Shocker: 5 Top Tweets as Investors Try to Digest Elon Musk’s Flip Flop

Elon Musk has caught the attention of crypto investors again but this time it’s by dropping a shocker on them about the future of Bitcoin (CCC:BTC-USD) and Tesla (NASDAQ:TSLA).

Tesla (TSLA) badge on steering wheel of car

Source: Christopher Lyzcen / Shutterstock.com

The Tesla CEO posted a Tweet yesterday announcing that the company is no longer accepting Bitcoin for payments. It reads as follows.

“Tesla has suspended vehicle purchases using Bitcoin. We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.

Tesla will not be selling any Bitcoin and we intend to use it for 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.”

Following that Tweet, Musk responded by saying that the energy usage trend for Bitcoin over the past few months is insane.

The shocker from Elon Musk about Bitcoin and Tesla brought out quite a few responses from users on Twitter (NYSE:TWTR). Let’s take a look at some of those below.

It comes as no surprise that some users are hoping for Tesla to replace Bitcoin with Dogecoin (CCC:DOGE-USD). Musk has been a vocal supporter of the cryptocurrnecy. He even asked Twitter users on Tuesday if they wanted to electric vehicle (EV) company to start accepting the crypto.

TSLA stock was up slightly while the price of BTC was down 11.4% as of Thursday morning.

Investors that are still looking for more crypto news should keep on reading.

InvestorsPlace offers a wide variety of crypto coverage with daily content. That includes crypto stock such as Marathon Digital Holdings (NASDAQ:MARA) and Riot Blockchain (NASDAQ:RIOT), as well as alternatives to Bitcoin, like Dogelon Mars (CCC:ELON-USD) and Polkadot (CCC:DOT-USD). Investors can learn more about these topics at the links below.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/05/tesla-bitcoin-shocker-5-top-tweets-as-investors-try-to-digest-elon-musks-flip-flop/.

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