The same reasons reasons were valid when the cryptos were galloping up the charts. So all in all its a meme driven gambling phenom. And nobody can predict when it will end. It will end when it ends...
Hope he wins.. That Elon guy has been too much lately... Genius and visionary of course but also an egotistical maniac who think everything and everyone should be at his beck and call.
Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns
TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has "suspended vehicle purchases using bitcoin," out of concern over "rapidly increasing use of fossil fuels for bitcoin mining.". The price of bitcoin dropped about 5% in the first minutes after Musk's announcement.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.At that time, the company said it would start accepting bitc
Tesla Inc. has become the latest major corporation to make an investment in bitcoin, underscoring the increasing acceptability of the digital asset.The big question observers are asking is, why is the Elon Musk-run company doing this?Monday, electric-car maker Tesla said in a public filing that it purchased $1.5 billion of bitcoin and that it expects to begin accepting payment in the cryptocurrency for its products in the future.The move by Tesla to invest in bitcoins was seen as further confirm