Categories: News

Tesla is already abandoning Bitcoin, considered too polluting

After a very large investment in Bitcoin at the start of the year, Elon Musk and Tesla are already abandoning cryptocurrency.

In early February, Tesla hit the headlines by announcing a $ 1.5 billion investment in Bitcoin, a secure virtual currency. Elon Musk, the whimsical boss of the electric giant, had even announced that the brand’s cars could be purchased via this cryptocurrency.

But three months later, Tesla is already turning around. As usual, Elon Musk grabbed his Twitter account to announce the news: “Tesla has suspended car buying thanks to Bitcoin. We are worried about the consumption of fossil fuels linked to the extraction and transactions of Bitcoin, in particular coal, the most polluting of all energy sources. “

A not-so-polluting process, according to experts

Indeed, with the explosion of the price of cryptocurrency in recent months (a Bitcoin was exchanged for more than 40,000 € recently), more and more people and companies have embarked on “mining”, the process virtual currency extraction. This system requires powerful, power hungry computers. And, in recent months, the sector’s electricity needs have exploded. In countries where electricity comes mainly from fossil fuels (coal, natural gas, etc.), an increase in pollution is therefore mechanical.

Still, experts temper Elon Musk and Tesla’s fears. Asked by France Info, economist Philippe Herlin believes that Bitcoin uses 80% renewable energies,

and that it is even indirectly a boost to these sources of electricity, because it allows the use of electricity in off-peak periods (at night).

An important source of income for Tesla

Still, Tesla’s decision is final. To limit the damage on the markets, the manufacturer has however announced that it will not not sell your Bitcoin stock, keeping him “warm” until his energetic fears are over. A significant loss for the brand, which had already generated more than $ 100 million in profits since February thanks to its investment in the currency.

In the meantime, Elon Musk has announced that he is working with other cryptocurrencies to find a cleaner solution, in particular with Dogecoin, a cryptocurrency originally launched as a joke but recently saw its price explode. Elon Musk also called for the creation of a carbon tax, which would inevitably be a significant advantage over competing manufacturers.

Read also :

fbq('init', '1074802596328068'); fbq('init','3856678577721467'); fbq('track', "PageView"); jQuery(document).on("change_item" , function(e, i) if(i == 11) fbq('track', "ViewContent");


Published by

Recent Posts

At 24,500 km, its engine fails, the bill is EXORBITANT!

Avid reader of the newspaper you are currently reading, a motorist is since January 2019…

2 hours ago

Discover an ultra-secret Volkswagen collection!

Volkswagen is one of the biggest car brands! In 2020, it was expected that it…

2 hours ago

In which country are you most at risk of having your car stolen?

Which countries are most affected by car theft? A new study reveals a less reassuring…

3 hours ago

The largest hydrogen station in Europe arrives in Paris

HysetCo has just inaugurated the largest hydrogen station in Europe at Porte de Saint-Cloud. It…

3 hours ago

Selling your car: everything you need to know

Selling your car, not so easy. A simple over-the-counter transaction is not enough. Several administrative…

4 hours ago

Online driving schools: tell us about your experience

Online driving schools are flourishing and seem to be on the rise, especially among young…

5 hours ago

This website uses cookies.