Dogecoin price climbs after Elon Musk praises crypto for ‘promising’ improvements

On Wednesday, Mr Musk announced Tesla would be suspending Bitcoin payments for the company’s vehicles over fears about its environmental impact.

He said, in a statement, Tesla was also potentially interested in accepting payments in cryptocurrencies with less than 1 percent of Bitcoin’s energy footprint.

Mr Musk added: “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.”


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