Elon Musk Doubles Down on Bitcoin Energy Consumption FUD, Says Bitcoin Energy Consumption is Insane

Elon Musk dropped a bombshell late yesterday after he announced that Tesla would no longer accept Bitcoin payment owing to its network’s high consumption rates, while at the same time also informed that Tesla won’t sell any Bitcoin they had bought earlier in February. The announcement took everyone by surprise given Musk had recently extended his support for Bitcoin’s promotion of clean and renewable energy usage. The billionaire received a lot of flak from the Bitcoin community for flip-flopping on his statements. Many pointed towards the company’s recent attempt to enter the renewable fuel credit market.