Mercedes-Benz plans to invest more than €40-billion by 2030 to be ready to take on Tesla in an all-electric car market, but warned the shift in technology would lead to job cuts.
Tesla will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, CEO Elon Musk said.
Tesla’s shares have become less correlated with those of large US technology companies ahead of the electric vehicle maker’s earnings report and bitcoin may be the reason why.
Bitcoin hit a two-week peak just shy of $40 000 on Monday, after another weekend reacting to tweets from Tesla boss Elon Musk.
The cryptocurrency market nursed its wounds on Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling and a possible US tax clampdown.
Bitcoin dropped to a three-month low on Monday in the wake of Elon Musk’s hinting over the weekend that Tesla is considering or may have already sold some of its bitcoin holdings.
Having earlier said Tesla would accept bitcoin as payment, Elon Musk this week reversed that position, stating cryptocurrencies’ “promising future cannot come at a great cost to the environment”.