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Elon Musk says Tesla will no longer accept bitcoin due to fossil fuel use

Digital currency, which is made with an energy-intensive process that often relies on fossil fuels, fell more than 7% after the tweet

Tesla has suspended the use of bitcoin to purchase its vehicles, Elon Musk said in a tweet on Wednesday, citing concerns about the use of fossil fuel for bitcoin mining.

Related: Dogecoin’s record-breaking rise shoots ‘joke’ cryptocurrency to wider attention

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