Elon Musk is taking down Bitcoin 'experts' one tweet at a time
On May 12, Elon Musk said Tesla will no longer accept bitcoin for car purchases
The outspoken proponents of Bitcoin are having a hard time due to Elon Musk's tweets. First, Musk's announcement last week that Tesla won't accept payment in Bitcoin, triggered a 17% slide in the world's most popular cryptocurrency. Second, Tesla CEO has taken it upon himself to counter pro-Bitcoin arguments through environmental questions attached to Bitcoin mining.
Last week, Musk said Tesla will no longer accept bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency.
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Musk to cryptocurrency 'experts'
In February, Tesla bought $1.5 billion worth of bitcoin. In a filing with the United States' Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on cash."
With inputs from Bloomberg
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