Dogecoin price climbs after Elon Musk praises crypto for ‘promising’ improvements | City & Business | Finance


On Wednesday, Mr Musk announced Tesla would be suspending Bitcoin payments for the company’s vehicles over fears about its environmental impact.

He said, in a statement, Tesla was also potentially interested in accepting payments in cryptocurrencies with less than 1 percent of Bitcoin’s energy footprint.

Mr Musk added: “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.”

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