Tesla has suspended vehicle purchases using Bitcoin. 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.
Like hell you are! Didn't know about that fact when made a purchase worth $1.5B?
Yeah, that makes absolutely no sense as a rationale behind Tesla no longer accepting bitcoin. No sense whatsoever--and you're absolutely right, Musk ought to have known all of the facts behind how bitcoin is mined and so forth; he's by no means a stupid person. The weird thing is the timing behind the buying and selling of bitcoin by Tesla. It almost seems like they didn't think it through at all, unless they were just looking to make a short-term profit (and I hate to say it, but they could be guilty of manipulating the market in doing so).
I also agree that this bone-headed decision could be responsible for bitcoin's decline in the last few days. Makes me wonder how the other corporations that purchased bitcoin feel about this, and perhaps what they might do. Hopefully Tesla doesn't induce companies like MicroStrategy, Square, Marathon Digital, and others to sell. Just imagine if that were to happen. Bitcoin would probably be under $10k in no time.