Electrical automobile start-up Fisker doesn’t plan to put money into bitcoin or settle for the cryptocurrency as cost, in keeping with CEO and founder Henrik Fisker.

Fisker stated bitcoin is just not “a sustainable answer,” echoing environmental issues raised final week by Tesla CEO Elon Musk as a result of issues over the use of fossil fuels for bitcoin mining.

“I simply do not assume it is a sustainable answer,” Fisker stated Monday throughout CNBC’s “Closing Bell.” “It is not environmental-friendly and we might not do this.”

Bitcoin makes use of extra vitality than complete nations similar to Sweden and Malaysia, in keeping with the Cambridge Bitcoin Electricity Consumption Index. Fisker stated such use does not align with the corporate’s mission of making the “world’s most sustainable autos.”

Fisker didn’t rule out the corporate ever accepting cryptocurrency, nonetheless he stated it isn’t a spotlight proper now for the corporate.

“I do not assume anyone can foresee what the forex goes to be in 5 years,” Fisker stated. Later including, “At this level, I am probably not bothered by what the forex is.”

Fisker remains to be at the least 16 months away from promoting its first automobile known as the Ocean. Buyer deliveries are anticipated within the fourth quarter of subsequent 12 months, adopted by three further autos by 2025.

Shares of Fisker had been down about 2% throughout afterhours buying and selling following the corporate reporting a lack of 63 cents a share in contrast with an anticipated lack of 19 cents, in keeping with common estimates of analysts compiled by Refinitiv.

Cryptocurrencies have grow to be a serious subject of dialogue for the automotive business following Musk’s help for bitcoin, together with a $1.5 billion investment by Tesla. Nonetheless, Musk final week stated it “suspended vehicle purchases using bitcoin,” out of concern over “quickly rising use of fossil fuels for bitcoin mining.” He is additionally tweeted help for dogecoin, a meme-inspired cryptocurrency.

Help for cryptocurrency from Tesla has contributed to the costs of cryptocurrencies, together with bitcoin and dogecoin, skyrocketing in latest months.

Musk’s aerospace firm, SpaceX, introduced final week it will settle for dogecoin as cost to launch “DOGE-1 mission to the Moon.”

– CNBC’s Lora Kolodny contributed to this report.