Musk Sends Bitcoin Tumbling After U-Turn

Tesla announced it will no longer accept Bitcoin payments due to environmental concerns, despite previously supporting the cryptocurrency. This decision has caused confusion and anger in the industry, as Tesla still holds Bitcoin. The company is now exploring alternative cryptocurrencies with lower energy demands, such as Ethereum, which is transitioning to a less energy-intensive format.

What impact did Elon Musk's support for Bitcoin have on its market value?

What alternative cryptocurrency was suggested as a potential candidate for Tesla?