Tesla No Longer Accepts Bitcoin As A Payment Method

In late March, Tesla’s Elon Musk announced that the company accepts Bitcoin as a payment method for customers in the United States. Musk, however, has now taken to Twitter to backtrack on this plan. He has now revealed that the company has stopped accepting Bitcoin as payment for its electric cars.

In the statement shared on Twitter, Musk cites environmental concerns for this decision. “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” reads the statement.

Tesla & Bitcoin pic.twitter.com/YSswJmVZhP

Wow. pic.twitter.com/jAAmmmFJtl

The development comes just a couple of days after Elon Musk posted a poll asking his followers if they want Tesla to accept Dogecoin. On a similar note, Dogecoin’s price dropped when Elon Musk jokingly called it a ‘hustle’ earlier this week on NBC’s Saturday Night Live.