Elon Musk announces suspension of Bitcoin Tesla purchases
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Bitcoin plunged this week following tweets from SpaceX founder and Tesla CEO, Elon Musk. Mr Musk tweeted a statement announcing Tesla will no longer accept Bitcoin as currency to purchase its vehicles.
The statement said there was concern about the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions”.
The statement added that cryptocurrency is a “good idea on many levels” with a “promising future”, but noted it cannot “come at great cost to the environment”.
Tweets from Mr Musk have had a devastating impact on Bitcoin this week.
But his comments about other cryptocurrencies have also affected the market.
According to Reuters, based on Friday’s figures, Bitcoin is down nearly 15 percent this week at $49,804.
Dogecoin is down about a third since last Friday, tumbling after Musk referred to it as a “hustle” during his appearance on US TV programme, Saturday Night Live.
But the cryptocurrency then jumped 20 percent after Mr Musk’s latest comments that he was involved in work to improve its efficiency.
Mr Musk tweeted: “Working with Doge devs to improve system transaction efficiency. Potentially promising.”
Another online currency which has been the source of great interest recently is SafeMoon.
Technically a DeFi token, little is currently known about SafeMoon as it is relatively new on the market.
SafeMoon has gained traction online, with fans of the currency tweeting to get the currency “to the moon”.
Those who invest in the currency face harsh penalties for trading.
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What is Dogecoin, Bitcoin and SafeMoon price today?
According to CoinDesk, as of 11am on Friday (BST), Bitcoin had a price of $50,532.67, or £35,934.08.
Bitcoin’s price saw a percentage change of 2.15 percent in 24 hours.
Bitcoin also had a market cap of $945.43 billion £672.30 billion.
According to CoinMarketCap, SafeMoon had a price of $0.000007739.
SafeMoon also had a market cap of $4,531,420,709, according to the site.
Dogecoin had a price of $0.537941, or £0.382533.
Dogecoin had seen a percentage change of 34.08 percent in 24 hours.
Dogecoin also had a market cap of or $69.64 billion, or £49.52 billion.
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