“Tesla has suspended vehicle purchases using Bitcoin. 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.”
Alex de Vries, a data scientist who tracks bitcoin’s energy usage on the Digiconomist website, tells Inverse that Musk’s conversion is “better late than never”. But it may not be just about energy consumption. Bitcoin may also be applying pressure to the global semiconductor shortage — and that’s bad news for Tesla.
Want to know more about Tesla’s bitcoin use and where it can go from here? Read the second part of our interview with de Vries this Friday, exclusively in MUSK READS+.
WHY DOES BITCOIN USE SO MUCH ENERGY? — Bitcoin uses a lot of energy due to h
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