Despite Tesla owning over 1 billion dollars worth of Bitcoin and being a vocal supporter of the new form of currency, Elon Musk has recently taken to Twitter to denounce it. Elon Musk, after Tweeting that Tesla would be accepting payment via Bitcoin weeks ago, the self-proclaimed Technoking announced on Twitter yesterday that Tesla would no longer be accepting purchases via Bitcoin due to its negative effects on the environment. He made it clear that he still supports the idea of cryptocurrency and will be holding onto Tesla’s Bitcoin until the cryptocurrency switches to a more sustainable model. This announcement caused Bitcoin’s value to drop to the lowest it has been since early March.
The day before Musk caused Bitcoin’s value to drop with one Tweet, he sent out a poll via Twitter asking whether or not Tesla should start accepting Dogecoin, causing the meme-based coin’s value to skyrocket.
