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Bitcoin: what Elon Musk's U-turn on Tesla payments means for future of crypto

By Gavin Brown, Associate Professor in Financial Technology, University of Liverpool

Tesla’s relationship with cryptocurrencies has been a stop-start rollercoaster. In February, the electric vehicle manufacturer announced it had purchased US$1.5 billion (£1.1 billion) of bitcoin and planned to accept the cryptocurrency in future as a means of payment from its customers. The price of the largest cryptocurrency surged that day from just over US$39,000 to US$46,000, on its way to an all-time high…

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