Friday, 24 March, 2023

Tesla stops the payment of cars in bitcoins

<p>Elon Musk has taken a step back on his stance on bitcoin and halted payments of cars via bitcoins. Tesla is concerned about the use of fossil fuels for mining bitcoins that have a disastrous effect on the environment. Following the tweet by Musk, bitcoin fell more than 4%. Tesla, in this quarter, spent $1.5bn on bitcoin and then cut its position by 10%. The sale made a $101mn positive impact on the company&rsquo;s profit during the period.<br /> <br /> <br /> &nbsp;</p>