Tesla to stop accepting Bitcoin for car payments

Electric car maker Tesla will stop accepting Bitcoin as a payment

Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns. “We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” Musk said on Twitter. He added that cryptocurrency is a “good idea on many levels” but its promise cannot come at a “great cost to the environment." Tesla, he added, won't be selling any of the Bitcoin it owns. The price of bitcoin fell about 5% to $51,847 after Musk's comments on Twitter. Tesla's stock finished Wednesday down 4.4%.