News

Tesla will not accept Bitcoin anymore according to CEO Elon Musk

May 13, 2021 4:59 AM

Published May 13, 2021 7:58 AM

(KYMA, KECY/ CNN) - The cryptocurrency giant, Bitcoin, has suffered a 12% drop in the market after Tesla CEO, Elon Musk, says you can't buy the electric vehicles with it anymore.

The price drop came early Thursday morning, down to about $50,900.

Musk says it is because of how Bitcoin is made. He explains that he's concerned about the "rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal."

There has not been a comment made by Tesla, including how many vehicles have already been bought with Bitcoin or the company's own Bitcoin buys.

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Cole Johnson

Cole Johnson is News 11’s Sports Director.

Contact Cole at cole.johnson@kecytv.com.

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