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What Elon Musk said was what led to the fall in the value of cryptocurrency

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What Elon Musk said was what led to the fall in the value of cryptocurrency Electric car company Tesla has canceled plans to buy vehicles from Bitcoin amid concerns over climate change. The company's founder Alan Musk made the announcement in a tweet. After this tweet, the price of Bitcoin has dropped by 10 percent. In March, Tesla announced it would accept cryptocurrency purchases. Many environmentalists and investors then opposed Tesla's move. In February, the carmaker said it had bought 1.5 billion worth of digital currency. But on Thursday, the company reversed its decision. "We are concerned about the growing biofuel consumption for the bitcoin business and bitcoin mining," wrote Alan Musk. We are particularly concerned about the use of coal, which emits the most carbon. The idea of ​​cryptocurrency is very good. But it doesn't have to pay a heavy environmental cost. ' Musk has also made it clear that the company will not sell the bitcoins it has bought.