Elon Musk Decries 'Insane' Bitcoin Energy Use After Tesla Payment U-Turn

Musk, one of bitcoin's most ardent backers, tweeted a graph of bitcoin's power consumption and said: "Energy usage trend over past few months is insane."

Tesla Inc boss Elon Musk on Thursday denounced the "insane" amount of energy used to produce bitcoin, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns. Energy usage trend over past few months is insane https://t.co/E6o9s87trwpic.twitter.com/bmv9wotwKe Musk, one of bitcoin's most ardent backers, tweeted a graph of bitcoin's power consumption and said: "Energy usage trend over past few months is insane." That followed his tweet from Wednesday saying Tesla would no longer accept the cryptocurrency as payment for its electric cars because it came at a great cost to the environment, an about face from his stance in March.