More reactions have continued to trail Tesla founder, Elon Musk’s announcement that the company would no longer accept Bitcoin for payment for its vehicles.
Binance founder, Changpeng Zhao, who reacted to the billionaire’s announcement on his Twitter handle on Thursday, said he (Musk) did not make any research before the statement was made public.
According to him, Musk’s reasons for the rejection of Bitcoin for payment of Tesla’s vehicles were contradictory.
It was reported that the world’s second-richest man had blamed the decision on level of energy consumption.
He said Bitcoin miners use fossil fuels to develop the crypto, adding that this is having an adverse effect on the environment.
He said Tesla believes in Bitcoin but won’t encourage its usage to the detriment of the environment.
The billionaire described the emissions from coal as one of the worst and would wait for Bitcoin development to be dependable on renewable energy.
However, Musks reasons have been rejected by Zhao and some Bitcoin investors.