$ Tesla stops taking Bitcoin for vehicle purchases, citing environmental harm - Not Even 2 months

[mindlessobserver]

Its so depressing how even ETH dumps because of this. ETH was never involved with Tesla for BTC purchases.

 

[Angry Shoes]

Thank you daddy Elon for the crypto sale.

 

[Tookie]

Wondering what the real reason was.

I'm betting they ran into trouble with potentially stolen bitcoins.

I bet it's a prelude to Elon spinning off some kind of clean energy crypto company.

 

[Kosher Dill]

Most companies in the world don't accept cryptos as payment. So in order to use his cryptos Musk would have to sell them for fiat currency and use that. This creates a paper trail that would make it harder to avoid taxes.

Musk was never dodging taxes this way anyway. Crypto isn't anonymous, and Tesla is big enough that there's certainly someone at the IRS watching their bitcoin wallets.

 

[Spasticus Autisticus]

What does China have? I expected them to have pretty much exhausted all their resources given their industry.

China has immense rare earth mineral reserves. According to the USGS, China has 44 million metric tons of reserves. That's more than the next two countries combined (Vietnam and Brazil). They still have a long way to go to exhaust their rare earths, and they're already spreading their tentacles to other countries with large reserves. The US is the second biggest miner of rare earths, supplying almost 16% of the global supply, all of which comes from one mine (Mountain Pass Mine in California -- and a Chinese Communist operated company owns 8% of it).