PALO ALTO, Calif. – Tesla owner and business magnate Elon Musk has announced to end accepting bitcoin crypto-currency, as payment for its vehicles.
Taking it to his official handle on Wednesday, Tesla has ended its association with cryptocurrencies, reversing its March 24 announcement citing environmental reasons.
SpaceX co-founder Wednesday shared a note on his official handle that stated: "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal."
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
The tweet further added that ‘Cryptocurrency is a good idea on many levels, and Tesla believes it has a promising future, but this cannot come at great cost to the environment.
Soon after the announcement of the world’s second-richest person, the price of bitcoin dropped by more than 8 percent.
Earlier in February, Bitcoin has surged 50 percent since Tesla’s February 8 announcement of its bet on the token. The electric motor company claimed to be the first automotive company in the world to accept payment in bitcoin for its cars soon after its customers were asking it to accept the cryptocurrency as payment.
Pakistani rupee saw slight gains against US dollar in the open market on March 19, 2024, Tuesday.
In the open market, the US dollar was being quoted at 278.6 for buying and 281.45 for selling.
Euro remains unchanged at 303 for buying and 306 for selling while British Pound hovers around 356 for buying, and 359 for selling.
UAE Dirham AED saw slight changes and new rate stands at 75.7 whereas the Saudi Riyal new rates was 73.95.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 278.6 | 281.45 |
Euro | EUR | 303 | 306 |
UK Pound Sterling | GBP | 356 | 359 |
U.A.E Dirham | AED | 75.7 | 76.45 |
Saudi Riyal | SAR | 73.95 | 74.4 |
Australian Dollar | AUD | 182.7 | 184.5 |
Bahrain Dinar | BHD | 741.22 | 749.22 |
Canadian Dollar | CAD | 204 | 206.2 |
China Yuan | CNY | 38.73 | 39.13 |
Danish Krone | DKK | 40.69 | 41.09 |
Hong Kong Dollar | HKD | 35.63 | 35.98 |
Indian Rupee | INR | 3.36 | 3.47 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 903.77 | 912.77 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 169.5 | 171.5 |
Norwegians Krone | NOK | 26.27 | 26.57 |
Omani Riyal | OMR | 723.7 | 731.7 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206 | 208 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 315.26 | 317.76 |
Thai Bhat | THB | 7.76 | 7.91 |
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