Why Did Bitcoin Crash? Bitcoin Price

Everyone is talking about the Bitcoin crash today. Elon Musk shared on Twitter that they are concerned about the rapidly increasing use of fossil fuels, especially coal with the worst emissions, for Bitcoin mining and operations.

Bitcoin Crash and Elon Musk

What is the price of bitcoin? Why Did Bitcoin Crash?

1 Bitcoin: 49,411.60 USD

Noting that Tesla suspended the use of Bitcoin in vehicle sales, Musk said, “We believe that the cryptocurrency is a promising idea at many levels, but it cannot cost a great deal for the environment.” used the expression.

Stating that Tesla will not sell any Bitcoin, Musk stated that they plan to use it for transactions as soon as mining becomes more sustainable.

Elon Musk noted that they are also reviewing other cryptocurrencies that use less than 1 per cent of the energy spent on Bitcoin.

When Will Bitcoin Crash?

After Musk’s post on the subject, the price of Bitcoin fell from $58,000 to $46,000. This is considered another vital Bitcoin crash since the beginning of the year.

US electric car manufacturer Tesla announced on February 8 that it has invested $1.5 billion in Bitcoin. The company has reported that it will start accepting Bitcoin as a payment type in the near future.

SEE MORE: Elon Musk on Bitcoin

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