After electric car manufacturers started accepting Bitcoin (BTC/USD) as a payment method, many thought other companies in the industry will follow in its footsteps. But it seems American automaker Fisker is not buying the idea.
The electric-car maker recently stated that it will not invest or accept cryptocurrency as a payment option.
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On Monday, the company’s shares dropped $0.63 after a report of an anticipated loss of $0.19 per share.
Henrik Fisker, the chief executive officer of the company, stated that the solution will not be sustainable both for its customers and the company. He stated that,
I just don’t think it’s a sustainable solution. It’s not environmentally friendly and we would not do that.
Also, he stated that the current position of the company on the acceptance of cryptocurrency is still the same and it may not change anytime soon.
Tesla also recently halted Bitcoin acceptance
The news of Fisker’s resolve not to accept cryptocurrency is coming a week after Tesla also suspended the acceptance of the cryptocurrency.
Both Fisker and Tesla have given reasons for their decision, stating that there is an increased use of fossil fuels for Bitcoin mining, which is environmentally degrading.
Fossil fuels usage doesn’t align with the company’s goals
However, while Fisker stated that “Bitcoin is not a sustainable solution”, he didn’t rule out the option of accepting the token in the future.
Fisker reiterated that the high energy usage for Bitcoin mining doesn’t align with the company’s goal to make the world’s most sustainable vehicles. Fisker is still in the production phase and has not made any sales yet.
However, the company intends to launch its first electric vehicle late next year. Fisker says the company doesn’t want to start with any project that goes contrary to what it believes and intends to achieve as an environmentally friendly car maker.