What Happened Between Tesla and Bitcoin?

[Sharpmax]

Tesla and its CEO rattled the crypto world last month when the EV-maker decided to disable bitcoin payments for its products just two months after first allowing them. Apart from the instant adverse effects on the crypto markets (read bitcoin’s price crashed immediately after the news), this caught the world’s attention as the topic of BTC’s energy consumption became highly discussed within and outside the community. The main issue came from Tesla’s reasoning. The company argued that it came to this decision after getting concerned about the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Being a company striving for carbon neutrality, Tesla’s move is somewhat understandable, even when one disregards the actual energy required to develop and power the firm’s vehicles. However, Elon Musk is among the most prominent inventors and brightest entrepreneurs of our generation. As such, it would be rather frivolous to think that he and the company he runs initially enabled BTC payments (and bought $1.5B worth of the asset) before doing proper research.Source