Elon Musk made waves in February when he announced that Tesla was buying $1.5 billion worth of Bitcoin and accepting the world’s most popular cryptocurrency as payment for its vehicles — yet another first for Musk in the auto industry.
The revolution was short-lived.
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What is often left out of the discussion about Bitcoin is how terrible it is for the environment. The powerful, specialized computers that are needed to mine Bitcoin gobble up enormous amounts of energy, which is why most of it is mined in China, where electricity is dirt cheap and regulations are lax. Tesla — a company whose entire brand is rooted in sustainable energy — dropped its Bitcoin bid about three months later. Musk cited environmental concerns and the huge volume of fossil fuels that must be burned to produce a single coin. On May 12, Musk’s mea culpa wiped $365 billion from the cryptocurrency market in a single day.
But not all companies share Musk’s concern with green energy. Bitcoin is big and getting bigger, with some of the biggest corporations in America jumping on the bandwagon and accepting Bitcoin as payment. Here are the top 10 players in the game.
Read: Why Some Money Experts Believe In Bitcoin and Others Don’t
Last updated: May 17, 2021
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