Bitcoin sinks after Tesla pull out – Not accepted for car purchases

from accepting the cryptocurrency for its car purchases.

This shocked the market, given the recent build up of $1.5 billion worth of Bitcoin on its account to get the company ready to accept Bitcoin as payment for its cars.

In his latest Twitter post, Musk pointed out his concerns about how the energy intensive process of mining Bitcoin is detrimental to the environment.

In fact, he also mentioned that they are looking for other cryptocurrencies that have much lesser environmental impact for the time being.

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Start – 0:00
#1: Musk moving the cryptocurrency market again – 0:04
#2: will not accept Bitcoin for car purchases – 0:19
#3: Musk’s concern of the environmental impact of Bitcoin mining – 0:52
#4: Other investors’ stance – 01:24
#5: What’s next – 01:51

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