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Tesla will no longer accept Bitcoin as payment

2020 Tesla Model Y, r m
Posted at 6:31 PM, May 13, 2021
and last updated 2021-05-13 18:45:59-04

Tesla will no longer accept Bitcoin to pay for its car – just months after the company began allowing customers to use the cryptocurrency.

Following CEO Elon Musk's decision, Bitcoin fell more than 10%.

Musk said it was because of environmental concerns.

Some Tesla investors and environmentalists have criticized the way Bitcoin is mined, which requires a large amount of electricity.

Robin Dich at Newsy first reported this story.