Elon Musk has been talking a lot about bitcoin and other cryptocurrencies on Twitter. On Sunday night, his last tweet sent the price up over 10%. In the last two months, the billionaire and Tesla CEO have tweeted more than times. We will see here his latest Tweets on Crypto Market.
Musk’s comments raise concerns about the stability of a market that is so readily affected, especially as ordinary investors flock to cryptocurrencies in greater numbers. In April, the first major cryptocurrency trading platform in the United States became public, indicating that blockchain-based currencies such as bitcoin, Ethereum, and Dogecoin are becoming more popular.
Tesla Elon Musk has stated that the firm would no longer accept bitcoin as a form of payment in June. Since May, when he announced that he would no longer take bitcoin, the price of the cryptocurrency has fluctuated. It was owing to environmental worries regarding its high energy use, he tweeted.
Tesla Elon Musk said last week that his company’s cryptocurrency assets will be sold. Bitcoin’s price plummeted to its lowest point since February, when it was trading at about. Musk hinted in a second tweet a few days later that Tesla may have already done so.
Tesla On May 17, Elon Musk stated that the business has not sold bitcoin, halting the decline and keeping prices around $45,000. Musk stated on May 17 that Tesla had no plans to offer any additional virtual money.
A week later, Musk appeared to address the issue by calling North American bitcoin miners’ intention to report renewable energy use “possibly encouraging.” This boosted bitcoin’s price by 4%, but it has since fallen back.
On June 3, Elon Musk tweeted a joke about breaking up with bitcoin. That day, the value of virtual money dropped by 5%. Musk then removed the post and apologized to his followers, saying it was a joke.
Elon Musk has been talking about bitcoin a lot lately on Twitter. The price of the cryptocurrency increased by 8% as a result of his last tweet. He also stated that he would take bitcoin once more provided miners used “reasonable” sustainable energy.
Elon Musk said on Twitter that he was working with dogecoin developers to enhance the currency’s efficiency. In May, he tweeted that the meme-inspired currency will be accepted as payment for delivering payloads to the moon. SpaceX announced earlier this month that it will launch a 40-kilogram cube satellite called DOGE-1 to the Moon.
Tesla Elon Musk’s power on Bitcoin’s price is so great that it extends to his crypto impersonators as well. The Federal Trade Commission recently stated that Musk impersonators defrauded consumers out of $2 million. We shouldn’t anticipate Musk’s disproportionate impact over cryptocurrency pricing to fade anytime soon: cryptocurrency is becoming more mainstream, and Musk’s enterprise is expanding.