(TheLibertyRevolution.com)- Elon Musk, the billionaire CEO of SpaceX and Tesla that the left just loves to hate, announced this week that Teslas can no longer be purchased using Bitcoin…because of the environmental impact of the cryptocurrency.
The announcement was pretty unexpected given how Musk is known for his support of cryptocurrencies, regularly pushing the “#ToTheMoon” meme referencing the joke cryptocurrency Dogecoin.
“Tesla has suspended vehicle purchases using bitcoin,” Musk said in a statement on Twitter. “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.”
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
It makes sense in a way, given that Tesla is focused on finding new ways to power cars – but the decision to allow people to purchase Tesla vehicles with cryptocurrencies like Bitcoin is still pretty new.
Customers were only allowed to make Tesla purchases with Bitcoin in March of this year. It was only available for customers in the United States and the company was reportedly planning to roll it out globally before the end of the year.
It doesn’t look like this decision is permanent, anyway. The statement added that Tesla intends to reintroduce the purchasing option once “sustainable energy” is used in mining – which is the process of creating cryptocurrency and powering transactions via computer systems globally.
Furthermore, Musk added that Tesla would not be selling any of its Bitcoin – of which it purchased $1.5 billion worth in February of this year – and added that they intend to use it for transactions in the future when mining starts to use energy from sustainable sources.
The decision could be a sign that Musk is looking to wield his influence on the cryptocurrency markets to encourage miners to use sustainable energy – something that could ultimately help his electric car business.
Perhaps this is another one of those 4D Chess moments we’ve come to expect from Musk.
