Bitcoin investors expect supply shock in 2020, StillMark’s Killeen says

The price of Bitcoin took a tumble after Elon Musk said Tesla would no longer be accepting the cryptocurrency as a payment method. Musk raised concerns about the climate impact of Bitcoin mining.

The electric carmaker Tesla, run by Elon Musk, has stopped accepting payments in Bitcoin, due to the environmental impact of the cryptocurrency. It's a major blow for supporters of Bitcoin, as Tesla's endorsement of it as a payment method in February was one of the factors which pushed its price to record highs. The price of Bitcoin slumped up to 11 percent in the hours after the announcement. Also today, Germany's financial regulator orders extra supervision of the online bank N26.

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China has said it will stop banks and payment firms from using cryptocurrenices, sending prices into a tailspin. Beijing's regulators warned that "speculation" was a threat to the financial system.

The price of Bitcoin has seen more wild swings after a tumultuous week for cryptocurrencies. A selloff sparked by comments from Chinese regulators was followed by a tweet from Elon Musk on Wednesday that Tesla was holding on to its investment in Bitcoin, which sparked a rebound in prices.

Here are a few reasons to pick up a copy of The Guardian on Thursday. Find these stories and much more when you grab a copy of The Guardian on Thursday.⁣

Bitcoin was beginning to look like a better store of value than traditional currencies — even gold — until the cryptocurrency crashed 44% last month. DW unpicks the complicated world of currencies.

Lawmakers have approved a law classifying Bitcoin as legal tender, making El Salvador the first nation to officially adopt a cryptocurrency.

The Congress of El Salvador has approved a law that will classify bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency.

Chinese authorities have told all crypto mining to stop, citing speculation risk and power consumption concerns. The move has hurt the share prices of Bitcoin and others.

The price of Bitcoin dropped below the all-important $30,000-mark after China made several moves to rein in the cryptocurrency. The fall could trigger a sell-off, but experts say China isn't as important as it once was.

What's up with Bitcoin? It's down, dropping to its lowest level since January after China announced a crackdown on cryptocurrency mining. Is it, as stated, about going green and cooling it in the nation that's home to an estimated two-thirds of the energy-sucking giant computer servers that create virtual currencies? Or is it about reining in a cottage industry that is out of not only Beijing's control, but that of central banks and regulators the world over?