Bitcoin price slips further after Elon Musk tweets - Hindustan Times
close_game
close_game

Bitcoin price slips further after Elon Musk tweets

Reuters |
May 17, 2021 11:22 AM IST

The Tesla boss' tweets, which had helped drive some of the gains in bitcoin in recent months, last week triggered a 17% slide in the value of the cryptocurrency

The price of Bitcoin traded below $45,000 on Sunday after a tweet by Tesla CEO Elon Musk, an outspoken supporter of cryptocurrency, suggested Tesla may be considering or may have sold off its bitcoin holdings.

On May 12, Elon Musk said Tesla will no longer accept bitcoin for car purchases, citing long-brewing environmental concernsREUTERS/Mike Blake(REUTERS)
On May 12, Elon Musk said Tesla will no longer accept bitcoin for car purchases, citing long-brewing environmental concernsREUTERS/Mike Blake(REUTERS)

Musk's tweet was in response to an unverified Twitter account called @CryptoWhale, which said "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 @elonmusk is getting, I wouldn't blame him…".

Hindustan Times - your fastest source for breaking news! Read now.

Musk replied "indeed" without specifying whether Tesla had sold off its bitcoin holdings or that he simply agreed with the sentiment that he faced criticism.

On May 12, Musk said Tesla will no longer accept bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency.

The Tesla boss' tweets, which had helped drive some of the gains in bitcoin in recent months, last week triggered a 17% slide in the value of the cryptocurrency when he said his company's customers would no longer be able to use bitcoin to buy its cars.


Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On