• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Binance, Quidax, Buycoins Africa, Bundle Obey CBN’s Crypto Ban

Crypto Prices plummet as Tesla Halts Use of Bitcoin For Car Purchases

4 years ago
Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

1 hour ago
Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

17 hours ago
Two Years After, League Football Returns To War-Ravaged Sudan

Two Years After, League Football Returns To War-Ravaged Sudan

18 hours ago
WFP Airdrops Life-saving Food Supplies In Conflict-Hit South Sudan

WFP Airdrops Life-saving Food Supplies In Conflict-Hit South Sudan

18 hours ago
2025 Euros: Players Escape Death As Wales’ Team Bus Crashes En Route To Training

2025 Euros: Players Escape Death As Wales’ Team Bus Crashes En Route To Training

19 hours ago
Wednesday, July 9, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Gabon’s Coup Leader and President Nguema Launches New Political Party

    Gabon’s Coup Leader And President Nguema Launches New Political Party

    Trump Demands Probe Of Subsidies Offered To Musk’s Firms

    After Fallout With Trump, Elon Musk Considers Floating Political Party

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    Tanzania: Prime Minister Majaliwa To Step Down

    Tanzania: Prime Minister Majaliwa To Step Down

  • Economy
    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Social Media Posts To Determine Eligibility Of Immigrants To Get Visas — US

    US Embassy Mandates Nigerian Visa Applicants To Remove Privacy Settings On Social Media

    Ghana: Parliament Passes Provisional Budget To Avert Government Shutdown

    IMF Commends Ghana’s Economic Reforms, Debt Restructuring

    Namibia Suspends State Funerals Following Criticism Over High Costs

    Namibia Suspends State Funerals Following Criticism Over High Costs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Promises To Clear Undeclared Debt Incurred By Past Administration

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Trump Threatens BRICS Nations With 10% Tariff Over “Anti-American Policies”

    Gabon’s Coup Leader and President Nguema Launches New Political Party

    Gabon’s Coup Leader And President Nguema Launches New Political Party

    Trump Demands Probe Of Subsidies Offered To Musk’s Firms

    After Fallout With Trump, Elon Musk Considers Floating Political Party

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Russia, China’s Presidents Absent As BRICS Summit Starts In Brazil

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Mali: Parliament Grants Coup Leader 5-Year Renewable Presidential Term Without Election

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Russia Becomes First To Recognise Taliban Government Of Afghanistan

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    Nigeria Misses Out, As Trump Hosts Economy, Security Meeting With 5 African Presidents

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    ADC: Major Shake-Up In Nigerian Politics As Top Figures Unite

    Tanzania: Prime Minister Majaliwa To Step Down

    Tanzania: Prime Minister Majaliwa To Step Down

  • Economy
    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

    Social Media Posts To Determine Eligibility Of Immigrants To Get Visas — US

    US Embassy Mandates Nigerian Visa Applicants To Remove Privacy Settings On Social Media

    Ghana: Parliament Passes Provisional Budget To Avert Government Shutdown

    IMF Commends Ghana’s Economic Reforms, Debt Restructuring

    Namibia Suspends State Funerals Following Criticism Over High Costs

    Namibia Suspends State Funerals Following Criticism Over High Costs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    SA: Mineral Council Says Proposed Tax On Chrome Export Threatens Jobs

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Promises To Clear Undeclared Debt Incurred By Past Administration

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Nigerian Govt Set To Launch ‘Africans For Africa’ Mining Sector Fund

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Kenya Mulls Privatisation Of Key Government Assets To Attract Investment

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Crypto Prices plummet as Tesla Halts Use of Bitcoin For Car Purchases

May 13, 2021
in Economy, Top Stories
0
Binance, Quidax, Buycoins Africa, Bundle Obey CBN’s Crypto Ban
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The price of Bitcoin has dipped more than 7% after CEO of Tesla, Elon Musk tweeted the suspension of bitcoin as a payment option for its vehicles.

Responding to Bitcoin’s dip, alts tumbled with prices of some coin dipping more than 30%.

Relatedreading

Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

The development came just hours after Elon Musk asked the Twitter community if they would like Tesla to accept dogecoin as a means of payment.

Musk attributed reason behind the halt to concerns about the use of fossil fuel for bitcoin mining.

As Bitcoin has scaled new heights this year, climate activists have been raising the alarm over the substantial amounts of energy consumed by Bitcoin mining. That is when mining rigs comprising powerful computers – sometimes thousands of them labouring in unison – race to verify Bitcoin transactions to win new coins.

Bitcoin mining consumes as much electricity annually as the entire country of Argentina, researchers at the University of Cambridge estimate, with China accounting for some 65 percent of Bitcoin mining globally.

That carbon footprint is at odds with Musk’s support for clean energy. But he is not giving up on 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,” Musk wrote on Wednesday.

The Tesla and SpaceX chief is a fervent supporter of cryptocurrencies and has inspired big market-moving swings in the prices of digital coins this year, including Bitcoin and Dogecoin.

In January, Bitcoin surged when Musk posted #bitcoin to his Twitter feed. His Midas crypto touch was unleashed again in February after Tesla disclosed in regulatory filings that it had bought $1.5bn of Bitcoin and that people could use the cryptocurrency to buy Tesla’s electric vehicles.

Tesla revealed in February it had bought $1.5bn of bitcoin, before it began accepting it as payment for cars in March, driving a roughly 20% surge in the world’s most widely held cryptocurrency.

On Wednesday, Edward Moya, a senior market analyst at currency trading firm OANDA, said that Musk was getting ahead of investors focused on sustainability. “The environmental impact from mining bitcoins was one of the biggest risks for the entire crypto market,” Moya said. “Over the past couple of months, everyone disregarded news that bitcoin uses more electricity than Argentina and Norway.”

In an “emergency press conference”, sometimes crypto trader and Barstool Sports founder, Dave Portnoy, asserted that Musk “just tried to tank Bitcoin,” stating: “[Musk] has been pulling the levers like the Wizard of Oz on crypto, and everyone’s following his every move — he’s sending Dogecoin up, he’s sending Bitcoin down, this is bullshit […] Elon, you have a responsibility when one second you say to buy something, and the next second you don’t – that’s playing with people’s futures and their fortunes.”

ShareTweetSend
Previous Post

Nigeria and the Danger of ‘Plan B’

Next Post

Eid-Al Fitr: Buhari, Lawan, Atiku, Govs, Tinubu, Others Beg Nigerians to Pray Against Insecurity

Related Posts

Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

July 9, 2025
Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

July 8, 2025

Two Years After, League Football Returns To War-Ravaged Sudan

WFP Airdrops Life-saving Food Supplies In Conflict-Hit South Sudan

2025 Euros: Players Escape Death As Wales’ Team Bus Crashes En Route To Training

Nigerian Army Honours NDDC’s Boss With Service Commendation Medal

Next Post
Don't Stop Praying For Nigeria, Buhari Tells Citizens

Eid-Al Fitr: Buhari, Lawan, Atiku, Govs, Tinubu, Others Beg Nigerians to Pray Against Insecurity

Please login to join discussion
AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

July 9, 2025
Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

July 8, 2025
Two Years After, League Football Returns To War-Ravaged Sudan

Two Years After, League Football Returns To War-Ravaged Sudan

July 8, 2025
WFP Airdrops Life-saving Food Supplies In Conflict-Hit South Sudan

WFP Airdrops Life-saving Food Supplies In Conflict-Hit South Sudan

July 8, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Dubai Tightens Visa Rules For Nigerians: Solo Travel Banned For Under-45 Tourists, $60k Bank Statement Now Required

July 9, 2025

Rwanda: Kagame’s Critic In Court Over Alleged “Subversion”

July 8, 2025

Two Years After, League Football Returns To War-Ravaged Sudan

July 8, 2025

WFP Airdrops Life-saving Food Supplies In Conflict-Hit South Sudan

July 8, 2025

2025 Euros: Players Escape Death As Wales’ Team Bus Crashes En Route To Training

July 8, 2025

Nigerian Army Honours NDDC’s Boss With Service Commendation Medal

July 8, 2025

Liberia: President Boakai Apologises To War Victims, Pushes For Reconciliation

July 8, 2025

Goldman Sachs Appoints Former UK PM Rishi Sunak As Senior Adviser

July 8, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

From Hope To Fear: Kenya Joins East Africa’s Crackdown On Free Expression

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In