Business
Bitcoin falls below $US48,000 as Musk calls energy use ‘insane’ – The Australian Financial Review
Elon Musk’s reversal on the cryptocurrency triggered a rush to the exit for some but not the truest of believers in bitcoin.
Musk signalled on Wednesday that Tesla might accept other cryptocurrencies if they are less energy intensive, and said the company wont sell any of its bitcoin.
Its unclear what prompted the decision and Musk and Zachary Kirkhorn, Teslas chief financial officer, didnt immediately respond to an email inquiry for comment. Kirkhorn in March added the tongue-in-cheek title Master of Coin, according to a regulatory filing.
Still, Musks tweets raise questions about bitcoins attractiveness as an investment…
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