Business

A tweet from Elon Musk caused a huge drop in bitcoin, after all, what did the CEO of Tesla say?

Currently, in the cryptocurrency market, the name of the same person comes behind most of the ups and downs. These individuals are Tesla's founder Elon Musk. Now one of his tweets has brought down the price of bitcoin by 17 percent.

- Advertisement-

Currently, in the cryptocurrency market, the name of the same person comes behind most of the ups and downs. These individuals are Tesla’s founder Elon Musk. Now one of his tweets has brought down the price of bitcoin by 17 percent. With this, Bitcoin, which was growing rapidly in the last year, reached the bottom level of three weeks. Recently, after one of his statements, the price of DodgeCoin was seen to be increasing. Now Elon Musk has announced in a tweet that his company will not accept bitcoin for Tesla cars.

Elon Musk wrote in the tweet, ‘Tesla has suspended the option of buying vehicles through bitcoin. We are concerned about the increasing use of fossil fuels being used for bitcoin mining and related transactions. Especially coal, which is the worst fuel in terms of emissions. ‘Musk said,’ Bitcoin is a great idea at many levels and we believe that it has a better future, but it should not harm the environment. ‘

15 cryptocurrencies on red mark within two hours of the tweet

After this statement by r Elon Musk, the price of this world’s most popular cryptocurrency has come down from $ 54,819 to $ 45,700. This is the lowest level of bitcoin after March 1. This big drop in bitcoin price has been seen within just 2 hours of Musk’s tweet.

According to CoinDesk, not just bitcoin but 15 cryptocurrencies have appeared on the red mark and their market cap has seen a big decline.

Tesla announced this year

Tesla announced on February 8 that she would accept bitcoin for her car. After this, the rate of bitcoin was increased by more than 14 percent. During that time Tesla also said that it will also place $ 1.5 billion of bitcoin in its treasury fund.

But now it is believed that after this statement of r Elon Musk, psychological support has come to an end with cryptocurrency. After Tesla gave bitcoin a place in its balance sheet, there was a worldwide eye on who would be the next company to do so.

Related Articles

Back to top button