Elon Musk announced that Tesla is going to stop accepting bitcoin as payment for its vehicles, as well as stop selling any Bitcoin it currently holds until the cryptocurrency’s mining process transitions to more sustainable energy.

The news caused a sharp fall in Bitcoin’s price by more than 10 percent, less than two months after Tesla added the cryptocurrency as a form of payment.

“We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” said the statement shared by Elon Musk on Twitter.

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“Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction,” the statement concluded.

Tesla and Elon Musk were criticized by environmentalists and some company investors for their decision to support a cryptocurrency that’s mined using huge amounts of electricity. According to estimates, global Bitcoin mining consumes the same amount of electricity annually as the Netherlands did in 2019.

Back in February, Tesla announced that it had bought $1.5 billion of Bitcoin, followed by the news that they started accepting the cryptocurrency as payment for their vehicles. This drove Bitcoin prices up by around 20 percent at the time.

Musk’s love affair with cryptocurrencies isn’t limited to Bitcoin, as he has been a very vocal supporter of Dogecoin as well. Just a day earlier, Tesla’s CEO held a poll on his Twitter profile, asking his followers whether Tesla should accept dogecoin as payment. SpaceX is also going to accept Dogecoin as payment to launch a lunar mission next year.