Tesla has suspended Bitcoin sales of its electric vehicles. The reason for this was the concern on the part of the company's representatives about the dangers of the environment due to the mining of the main cryptocurrency on the market.
The automaker noted the potential of Bitcoins in terms of the payment system of the future, but this should not be at the expense of the ecology of our planet. The company also stressed that it does not intend to get rid of its own stock of BTC and will resume sales as soon as mining switches to the concept of using energy from renewable sources. In addition, Tesla intends to find coins that spend less than 1% of the Bitcoin energy in a single transaction.
The impact of Bitcoin on nature has become one of the most pressing social topics for the crypto community over the past few years. BTC advocates argue that the lion's share of mining is powered by green energy sources. For example, hydropower. A 2020 report published by Cambridge indicated that 39% of the electricity on the grid comes from renewable sources, while CoinShares estimated the amount at 77%.
Netizens rightly emphasised the “hypocrisy” of the company, which “suddenly learned” about the potential harm from mining the main cryptocurrency for the environment a few months after the start of accepting BTC as payment for electric cars. In addition, literally in April of this year, Musk himself agreed with the statement that Bitcoin is not least contributing to the emergence of an increasing number of renewable energy sources.
The market immediately reacted to the announcement by dropping the main cryptocurrency to $45,700, pulling all other tokens with it. However, Bitcoin soon strengthened its position, leveled to $50,000, and is now trading at $50,280 on the Binance crypto exchange.