Bitcoin price drops by over 17%

The value of bitcoin fell by over 17 percent, to about $46,900, Report informs.

On Binance, the largest cryptocurrency exchange by volume, bitcoin fell 17.37 percent to $46,900.

On Wednesday, the founder and head of Tesla Inc., an American electric-automobile manufacturer, Elon Musk announced that the company was suspending the acceptance of the bitcoin cryptocurrency as a means of payment because obtaining it is not environmentally friendly.