In an interesting move Tesla stopped selling cars for Bitcoin. This killed a large amount of cryptocash as $365 Billion disappeared in the volatile but well known commodity. The problem is that Musk did this because of the apparent cost to mine Bitcoin, which is seen as a threat to those in the eco world… because of the large amounts of electricity and heat. Musk forgot that his Tesla cars need Lithium batteries, and other rare-earth minerals to move across the landscape. This hypocrisy had him lose some $20 Billion in net worth in a matter of days. His reviews on SNL weren’t all that great either.
Tesla CEO Elon Musk said Tesla would suspend car purchases using bitcoin, wiping off billions of dollars of value from the cryptocurrency market.
Found at www.cnbc.com
