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Questions and Answers
What was Elon Musk's reason for Tesla not accepting payments in Bitcoin?
What was Elon Musk's reason for Tesla not accepting payments in Bitcoin?
- Bitcoin is not widely accepted
- Regulatory issues
- Bitcoin is too volatile
- Environmental concerns (correct)
Which cryptocurrency rallied by about 20 percent after Elon Musk's tweet?
Which cryptocurrency rallied by about 20 percent after Elon Musk's tweet?
- Dogecoin (correct)
- Bitcoin
- Ethereum
- Ripple
What did Elon Musk say about crypto in his tweet after Tesla suspended vehicle purchases using Bitcoin?
What did Elon Musk say about crypto in his tweet after Tesla suspended vehicle purchases using Bitcoin?
- He is unsure about the future of crypto
- He thinks crypto is the future currency
- He believes crypto can't drive a massive increase in fossil fuel use (correct)
- He believes crypto is a passing fad
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Study Notes
Elon Musk and Cryptocurrency
- Elon Musk suspended Tesla's acceptance of Bitcoin payments due to environmental concerns.
- The cryptocurrency that rallied by about 20% after Elon Musk's tweet was Dogecoin.
- Elon Musk stated that cryptocurrency has a promising future, but it cannot come at a great cost to the environment, following Tesla's suspension of vehicle purchases using Bitcoin.
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