Elon Musk announces that Tesla will no longer accept Bitcoin as payment for vehicles, citing concerns about the "rapidly increasing use of fossil fuels for Bitcoin mining." The tweet sent Bitcoin's price tumbling more than 10% within hours, erasing over $100 billion in market capitalization. Just three months earlier, Tesla had purchased $1.5 billion in Bitcoin and begun accepting it for car purchases. The reversal infuriated the Bitcoin community, who pointed out that Bitcoin's energy mix was already cleaner than most industries. Musk's influence over BTC price became a recurring source of controversy.
Elon Musk's Tesla Bitcoin announcement