• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, June 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

Bitcoin prices crash as Tesla suspends payments via crypto

by Manasi Varma
May 15, 2021
in Bitcoin, Crypto, Dogecoin
Reading Time: 2 mins read
0
Bitcoin prices crash as Tesla suspends payments via crypto
TwitterWhatsappLinkedin

Elon Musk has quite a complicated relationship with cryptocurrency. Some days, he acts like their biggest supporter, sending the prices of tokens rocketing. On others, he send the prices of the same tokens tumbling, by saying a simple sentence that doesn’t sit in their favour. The latter has happened to Bitcoin, whose values went for a major dip as Tesla announced that they will no longer be accepting the crypto as a form of payment.

You might also like

U.S. Senate Delivers Major Win for Crypto with Bipartisan GENIUS Act

BlackRock Accelerates Bitcoin Bet with $1.4 Billion Buying Spree

Vault Raided: Inside the $82 Million Cyber-Strike on Iran’s Nobitex Exchange

Tesla to Stop Accepting Bitcoin

The prices of Bitcoin fell by as much as 15% in a single day on Wednesday, reaching a concerning low of $46,000. This was followed by a moderate rise in values, as some of the losses were revived. Prices finally came to a rest at $50,592.

Bitcoin
Image Credits: LiveMint

Citing environmental concerns as the reason behind the suspension, Musk took to his Twitter to say that Tesla was “concerned” over the rising emissions occuring due to the alarming increase in the use of fossil fuels for the mining of, and transactions using, Bitcoin.

Might be Useful in Future, But Can’t Compromise on Environment

He further added that he is still on good terms with cryptocurrency in general, calling it a “good idea on many levels.” However, he also warned that even though the business might be extremely promising in the future, it cannot be allowed to tamper with the environment.

Tesla Inc. is currently in possession of some 90 per cent of the $1.5 billion worth of Bitcoin it had acquired earlier this year. The remaining 10 per cent was sold in the open market.

Having taken a U-turn from being one of the biggest harbingers of Bitcoin, Musk also announced that Tesla will now be looking to allow other forms of crypto, which has emissions which are less than 1 per cent of those made by Bitcoin during transactions.

Dogecoin First, Bitcoin Next

This news comes less than a week after Musk had also sent the prices of Dogecoin plummeting last weekend. Back then, the reason had been the Tesla Head calling the crypto a “hassle” on SNL. Shortly thereafter, on Monday, Musk himself had become the cause for a boost in Doge’s value, after he posted a poll on his Twitter, asking if Tesla should start accepting Dogecoin as a form of payment.

 

Tags: #Crypto#DogecoinbitcoinElon MuskTesla
Tweet54SendShare15
Previous Post

How to hide or show ‘like’ counts on Instagram

Next Post

Woman Loses Her Savings After Being Scammed For Getting Double Money Via Bitcoins.

Manasi Varma

A 20-something year old with a flair for writing, a love for reading, and an obsession for KPop. Most amicable person you'll ever meet.

Recommended For You

U.S. Senate Delivers Major Win for Crypto with Bipartisan GENIUS Act

by Anindya Paul
June 19, 2025
0
Senate

In a landmark 68–30 vote, the U.S. Senate has passed the GUIDING AND ESTABLISHING NATIONAL INNOVATION FOR U.S. STABLECOINS (GENIUS) Act—the first federal legislation ever able to regulate...

Read more

BlackRock Accelerates Bitcoin Bet with $1.4 Billion Buying Spree

by Anindya Paul
June 18, 2025
0
BlackRock

BlackRock, the world’s largest asset management firm, has quietly ramped up its Bitcoin exposure—investing approximately $1.4 billion over a six day buying streak into its iShares Bitcoin Trust (IBIT)....

Read more

Vault Raided: Inside the $82 Million Cyber-Strike on Iran’s Nobitex Exchange

by Anindya Paul
June 18, 2025
0
Nobitex

In a politically motivated cyberattack, Iran's largest crypto exchange Nobitex lost more than $81.7–82 million in digital assets. The pro-Israel hacker collective "Predatory Sparrow" (Gonjeshke Darande) has claimed...

Read more
Next Post
Fake BBC Website

Woman Loses Her Savings After Being Scammed For Getting Double Money Via Bitcoins.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?