u.today
Bitcoin had a violent sell-off after Tesla CEO Elon Musk announced that the e-car manufacturer no longer accepts Bitcoin as a means of payment due to its CO2 footprint.
The leading cryptocurrency tanked to $45,700 at 00:02 a.m. UTC, its lowest level since February, due to the announcement before bouncing back to $50,000.
However, Telsa is not going to sell any Bitcoin it currently holds on its balance sheet.
In addition, it aims to resume BTC payments when mining becomes more sustainable.
Tesla is also looking for an alternative that uses less than one percent of Bitcoin's electricity.