Bitcoin (BTC) Plunges on Tesla Bitcoin Suspension, AUD/USD Spars USD Strength

Early Thursday – several hours after the New York closing bell – Bitcoin made a sudden and sharp drop. Tesla’s CEO Elon Musk tweeted a statement announcing the suspension of Bitcoin payments for Tesla vehicle purchases. Mr Musk noted the environmental impact, saying “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.” Tesla’s stock was down just over 1% in after-hours. Bitcoin dropped over 7% on the news, and while not necessarily an unusual move for the volatile crypto asset, it does showcase that … (full story)

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