BBC Pidgin of Friday, 14 May 2021

Source: BBC

Bitcoin price: Elon Musk Tesla move on Crypto coin acceptance fall Bitcoin price

Elon Musk Elon Musk

Tesla don stop to dey collect Bitcoin as money to buy dia cars.

Elon Musk, Tesla CEO announce for tweet say di reason na on top climate change issues wey e fit cause.

Dis bin cause Bitcoin to fall 10% afta di tweet and Tesla shares follow bow.

Dis na because dem dey make Bitcoin with high powered computers.

Na computers wey miners dey use compete with dem selves to solve hard mathematics puzzles dem dey.

So na plenti energy di computers dey take work and dem dey most time rely on electricity wey dem make from fossil fuel like coal.

And na why wen Tesla announce for March say dem g o start to accept di cryptocurrency as payment cause environmentalists and investors.

Dis fit be loss or di electric car maker as for February, dem reveal say dem buy $1.5 bn of di crypto currency.

But oga Musk neva give up on crypto as di way. For di statement e say, "Cryptocurrency na good idea... but we no fit to come at geat cost ot di environment."

E add say di company no go sell any of dia Bitcoin and go start to dey use am for transaction as soon as di mining of di cryptocurrency start to dey use sustainable energy.