Top Stories

Find Out Why Elon Musk's Tesla is Suspending Vehicle Purchases Through Bitcoin

Find Out Why Elon Musk's Tesla is Suspending Vehicle Purchases Through Bitcoin

Elon Musk has made an announcement about his car company Tesla.

On Wednesday (May 12), the 49-year-old CEO took to Twitter to announce that Tesla is suspending “vehicle purchases using Bitcoin.”

Click inside to find out why…

“Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which is the worst emissions of any fuel,” Elon started.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, this cannot come at great cost to the environment,” he continued.

“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy,” Elon concluded. “We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction."

If you missed it, Elon Musk talked a lot about Dogecoin cryptocurrency while hosting Saturday Night Live. Here’s what he said.

Just Jared on Facebook
Photos: Getty Images
Posted to: Elon Musk

JJ Links Around The Web

Photo of Private: JJ Links Around The Web
Getty Images
  • Things between Prince Charles & Prince Harry seem to be getting worse - TMZ
  • Cody Simpson isn't going to the Olympics - Just Jared Jr
  • These two Bravo stars are feuding on social media - TooFab
  • Big news for Taylor Swift fans! - Just Jared Jr