Bitcoin Drops and Recovers After Tweets Elon Musk

The value of cryptocurrency bitcoin has fallen sharply after a tweet from Elon Musk but recovered somewhat after a new message from the Tesla CEO.


After Musk announced last week that Tesla would stop accepting payments in bitcoin for environmental reasons, he now appeared to be hinting at selling the crypto coins Tesla already owns. In a new tweet, Musk says that Tesla has not yet sold bitcoin, which caused the price to rise again.

After the first tweet, the bitcoin price fell by just under 7 percent, to over $ 43,000. After the second tweet, the currency quickly rose to nearly $ 45,000. Other crypto coins also initially went down. But ether and dogecoin, which Musk has promoted for some time, also recovered after the second message from the Tesla boss.

Musk responded with his first tweet to a message from someone calling himself @CryptoWhale, who said that bitcoin fans would hit their heads when they find out next quarter that Tesla has sold its bitcoins.

In addition, the twitterer said that Elon Musk would be suitable because of all the hatred he got over him online after the decision to accept bitcoin as a means of payment no longer. “Indeed,” Musk responded with one word. Therefore, it was unclear whether Musk agreed that there are many haters online or whether he endorsed the statement about selling bitcoins.

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