Tesla's CEO, Elon Musk, announced in a tweet that bitcoin vehicle transactions have been halted due to climate change concerns.

Following the post, bitcoin dropped by more than 10%, and Tesla stock fell as well.

Some environmentalists and investors reacted angrily to Tesla's announcement in March that it will recognize the cryptocurrency.

The electric carmaker announced in February that it had purchased $1.5 billion (£1 billion) of the world's most valuable digital currency.

Tesla & Bitcoin pic.twitter.com/YSswJmVZhP

— Elon Musk (@elonmusk) May 12, 2021