Fisker Electric Vehicle Startup Bans Bitcoin Investment

Mervyn Kwan   May 18, 2021 06:10

A start-up electric vehicle company Fisker Inc. (NYSE: FSR) announced Monday that the company will not accept Bitcoin (BTC) as an investment due to environmental impacts caused by Bitcoin mining. (1).jpg

Fisker's CEO Henrik Fisker accepted a program interview with CNBC. He said that Bitcoin (BTC) is not “sustainable” and “environmental-friendly” enough due to high electricity consumption during the process of BTC mining which is not aligned with the values of the company. Fisker said: 

“I just do not think it’s a sustainable solution; it’s not environmental-friendly, and we would not do that.”

The founder of EV car automaking company said that this is not the right moment for Fisker to accept cryptocurrency as an investment. However, the company may still accept digital assets as payment tools in the future. Fisker said:

“I don’t think anybody can foresee what the currency is going to be in five years; At this point, I’m not really bothered by what the currency is.”

Meanwhile, Fisker also revealed an agreement Monday that the company cooperated with Sharp for the interior interface technologies for the future and upcoming EV cars.

According to CNBC’s report, Fisker sells his first vehicle, called “Ocean”, at least 16 months away. On the other hand, the delivery is expected in Q4 by next year, followed by three more vehicles in 2025.

Fisker also announced last week that the company would develop the EV car in 2023 with Foxconn and build it in the United States.

Regarding BTC payment, Elon Musk, the CEO of Tesla, tweeted earlier that BTC mining was highly concentrated in China and hinted that Tesla might dump the BTC. His response, however, led to another volatile wave oscillation in the crypto market.

Image source: Shutterstock

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