Elon Musk has taken to his social media to announce that his clean energy company Tesla has suspended Bitcoin payments over the cryptocurrency’s negative environmental impact.

The digital currency fell to its lowest point since March this year after Musk’s tweet, sparking reactions from crypto-investors on social media.

Elon Musk Says Tesla Won’t Accept Bitcoin, Causes Stocks To Drop

“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," Musk tweeted on May 12.

"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” he added.

Musk also said Tesla would not sell any Bitcoin and intends to use the cryptocurrency 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,” Musk said.

The tech mogul described the energy usage necessary to mine Bitcoin as “insane” in a follow-up tweet.

Related: Twitter Lashes Out At Elon Musk, Who Claims He's The First SNL Host To Have Asperger's Syndrome

Bitcoin Investors React To Musk’s Anti-Crypto Tweet

Musk’s Bitcoin concerns caused Bitcoin price to crash, upsetting some investors.

“why would you choose now to drop this bombshell? You’re playing with millions of lives financial security. You’re already rich,” one Twitter user wrote.

“tell my why two nights ago i bought bitcoin because ‘my gut was telling me it was going to be worth it’ and i f*cking thought my intuition was leading me somewhere i just got a notif that said ‘how elon musk may have crashed bitcoin with a single tweet,’” another investor opened up.

“That'll be worth like £20 after another Elon tweet,” one user joked.

Currently, the price of a Bitcoin is set at $49,612.50.

Other users are pointing out that a single tweet from Musk shouldn’t affect investors’ trust in the cryptocurrency.

“If one tweet can cause you to abandon your entire belief in #crypto (or anything else), that belief was never very strong to begin with,” someone tweeted.

On May 11, Musk asked his followers whether they wanted Tesla to accept Dogecoin, a cryptocurrency that the tech mogul has supported in the past. Musk also joked about Dogecoin during his SNL appearance.

Next: Here's How Grimes Stole The Show On Elon Musk's 'SNL'