Elon Musk has an “invisible power” to be able to appreciate or devalue virtual currencies. After announcing that it would be possible to buy a Tesla with Bitcoin, the currency soared and hit record highs.
Now, Elon Musk has confirmed that it is no longer possible to buy Teslas with Bitcoin and the price of the cryptocurrency has dropped a lot! Musk is concerned about environmental issues.
This morning the price of Bitcoin has dropped a lot! It is the fault of Elon Musk who confirmed that Tesla stops accepting payments in BitCoin because of environmental issues. The price of Bitcoin currently stands at 41,000 euros.
As always, the announcement was made through the social network Twitter, where Musk says he is aware of environmental issues due to the mining of the coins. Musk believes that cryptocurrencies are a good idea at the most different levels, but it is necessary to think about the impact on the environment. However, he does not abandon digital currencies, stating that currencies that have lower energy consumptions than Bitcoin are being analyzed.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Bitcoin is a virtual currency that was created in 2009, based on the peer-to-peer (P2P) system. P2P is a system that does not provide for the existence of a centralized authority that controls the currency or transactions, as with other currencies (for example, the Euro is controlled by the European Central Bank).
Cryptocurrencies have been growing in society. In addition to the value, there is also some confidence on the part of investors. The year 2021 started off big for the cryptocurrency Bitcoin. The digital currency has appreciated a lot and this can be seen even in the search for mining GPUs. But not everything seems perfect at this stage and the currency has been losing strength, enough for a few words by Elon Musk.
How will BitCoin’s valuation behave in the near future?