Until dropping down, Bitcoin soared above $48,000 (£34,820), but it remains about 25 percent higher than a week ago. Tesla’s move was taken by some investors as an indication that Bitcoin would become a mainstream financial asset.
There was some criticism, however, of a green car company investing in such an energy-intensive currency.
According to research from the University of Cambridge, Bitcoin actually consumes more resources per year than Argentina.
Cryptocurrency development, known as Bitcoin mining, includes energy-hungry hardware for computers and ever-increasing amounts of processing power.
“Tesla: Sells carbon credits to buy Bitcoin, which requires as much energy (not always Green energy) as a small country to mine.”Tesla: Sells Bitcoin carbon credits to buy, which requires as much energy (not always green energy) as my own small country.
