New York (AP): The price of bitcoin fell below 50,000 Thursday morning after Tesla CEO Elon Musk tweeted a day earlier that the electric car maker would stop accepting the digital currency as payment for its vehicles.
Musk on Wednesday cited environmental concerns for the change in policy.
We are concerned about rapid increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel, Musk said on Twitter. He added that cryptocurrency is a good idea on many levels but its promise cannot come at a great cost to the environment.
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