Elon Musk decries bitcoin's 'insane' energy use after Tesla payment U-turn
- Bitcoin fell more than 10% after Musk, one of its most famous backers, tweeted his decision to suspend its use, less than two months after Tesla began accepting it as payment for its electric cars
Tesla Inc boss Elon Musk denounced the "insane" amount of energy used to produce bitcoin on Thursday, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more