SnapBots News Review — Elon Musk Suggests Tesla May Have Sold Bitcoin; Market Drops Again
The price of Bitcoin plummets, sometimes falling below $45,000, right after Elon Musk hinted that Tesla might have sold the coin.
An account called CryptoWhale, who introduces himself as a cryptocurrency analyst, posted on Twitter that: “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate Elon Musk is getting, I wouldn’t blame him…” Under this post, Musk commented: “Indeed.”
According to Bloomberg, the Tesla CEO is hinting at the possibility of selling or having sold Bitcoin. In February, Musk revealed that Tesla used $1.5 billion of nearly $20 billion in cash to buy Bitcoin.
Currently, Bitcoin is trading around the $46,300 mark, down nearly $4,000 from Friday (May 14). On Sunday, Elon Musk also spent hours responding to multiple Twitter accounts who criticized his turn from Bitcoin last week.
He caused the price of Bitcoin to plummet by nearly $10,000 in just a few hours last week after announcing that Tesla would not accept payment for this currency to buy cars. Elon Musk explained this move was due to environmental issues with Bitcoin mining. At that time, the Tesla CEO said he would not sell any of the Bitcoins held by Tesla.
Recently, Elon Musk has constantly been making the cryptocurrency market wobble after posting on social networks. He “touted” Dogecoin, helping this coin, which was born as a joke, to become the world’s fifth most valuable.
The American billionaire also went on TV and joked that Dogecoin was a “hustle,” which caused it to depreciate. However, Musk later said that he was working with Dogecoin developers to improve transaction efficiency.
Source: Bloomberg
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