Tesla is no longer accepting Bitcoin for vehicle purchases due to concerns over climate change.
CEO Elon Musk opened up about the decision this week, which comes after an announcement in March that the cryptocurrency would be accepted for sales after buying $1.5 billion (£1 billion) of the currency in February.
Now, he has said: "Tesla has suspended vehicle purchases using Bitcoin. 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."
However, Musk also confirmed Tesla isn't selling its Bitcoin and will instead wait until "mining transitions to more sustainable energy".
He continued: "Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.
"We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction."
Following his tweet, Bitcoin fell by over 10%, and Tesla shares also dropped.
