Ever since Tesla CEO Elon Musk announced that the automaking company will be dropping Bitcoin payments, Bitcoin (BTC) has plunged dramatically on the crypto market, shedding more than $10,000 of its value. Currently, the cryptocurrency is trading at $43,307.17, down 10% in the last 24 hours.
Last week, Musk announced via Twitter that Tesla was no longer going to enable Bitcoin payments, as BTC was not environmentally friendly enough for Tesla. He hinted that the company was however not done with the cryptocurrency altogether, as it will undoubtedly reimplement Bitcoin transactions once more sustainable energy was used to mine the cryptocurrency. The tweet shared by Musk read:
“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use