New Delhi, Business Desk. Elon Musk, owner of electric car company Tesla and SpaceX, on Monday, clarified that Tesla had not sold any bitcoin. Let us know that after a recent tweet by Musk, the value of this cryptocurrency has dropped sharply. Musk had announced that his electric car company would not take bitcoins as payment. Since then, the price of bitcoin has come down to its lowest level since February.
Musk’s statement Monday came in response to a post by the Twitter handle Bitcoin Archive. Simultaneously, Musk put to rest speculation that Tesla was wholly or partially abandoning its holdings of bitcoin.
Let us know that Elon Musk made a tweet on May 13, stating that Tesla Inc has stopped accepting Bitcoin for the sale of its vehicles. According to Musk, the decision was taken due to climate concerns. Musk’s tweet fell from $ 54,819 in the world’s largest cryptocurrency to $ 45,700 within just two hours. Apart from this, a similar pattern was seen in the trading of Ether, the world’s second largest cryptocurrency.
Musk said that we are concerned about the increasing use of biofuels and especially coal for Bitcoin mining and transactions. Burning coal has the worst emissions than any other fuel.
Significantly, in the same year Tesla announced that it had purchased $ 1.5 billion worth of Bitcoin and would accept Bitcoin to pay for the car. After this announcement by Musk’s company, the price of this cryptocurrency had seen a tremendous jump this year. The Bitcoin price at this time is US $ 44,738.50.