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Bitcoin Price Falls As A Result Of Musk’s Tweet.


Bitcoin prices decreased sharply after Tesla CEO Elon Musk, a clear crypto-currency supporter, suggested Sunday afternoon in a twitter that the electric car manufacturer may have considered or sold out its Bitcoin holdings.

The cryptocurrency price decreased in 24 hours to about $45,000 per coin at 10:00 GMT+8 on Monday, approximately 7 percent.

Tesla Shares Gain As Tech Rebounds, Bitcoin Heavy On Musk U-Turn - TheStreet

Musk’s tweet was an unchecked Twitter account called @CryptoWhale which said, “Bitcoiners will fall off next quarter when they discover that Tesla has dumped the remaining #Bitcoin holdings. With the amount of hatred that comes @elonmusk, I wouldn’t blame him…”

Musk answered “indeed” without indicating whether Tesla had sold off its Bitcoin holdings or simply that he accepted the feeling of facing criticism.

Tesla revealed in its February SEC filing that it bought bitcoin worth $1.5 billion.

Over the past year, Musk helped rally the prices of digital coins many times.

In recent weeks, however, Musk appears to have reversed course. On 12 May, he stated that Tesla no longer accepts Bitcoin for car purchases, citing long-term environmental concerns about the company’s swift reversal of cryptocurrency position.

The Tesla tweets of the boss last week triggered a 17-percent cryptocurrency slide when he said customers of his company could no longer purchase Bitcoin’s cars

Bitcoin Traded At The Price of $45000

The price of Bitcoin traded under $45,000 Sunday after Tesla CEO Elon Musk, a spoken cryptocurrency supporter, suggested that Tesla might take into consideration or sell off his Bitcoin holdings.

Tesla likely to start accepting bitcoin as payment again, says Elon Musk |  Bitcoin | The Guardian

Musk’s tweet responded to a Twitter account called @CryptoWhale, where it said, “Bitcoiners’ slap will be slapping themselves when Tesla discovers that the remainder of their #Bitcoin holdings have been dumped. I wouldn’t blame him with the amount of hate @elonmusk.
On 12 May, Tesla said that he would no longer accept Bitcoin for car buying, citing long-standing environmental concerns for the company’s rapid reversal in its crypto-currency position.

The tweets of Tesla’s boss, which contributed to some of the bitcoin profits in recent months, triggered a 17 percent slide in the cryptocurrency value last week when he said that the customers of his company would no longer buy their cars with bitcoin.


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