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Home News Elon Musk's Tweet Send Bitcoin Price To Drop Below $ 45,000

Elon Musk’s Tweet Send Bitcoin Price To Drop Below $ 45,000

Citing the rising value of Bitcoin amid the pandemic, Tesla CEO Elon Musk recently announced that Tesla buyers would be able to pay for their electric cars in Bitcoin. However, the Teslaquila maker scrapped the idea recently due to environmental concerns related to Bitcoin mining. Following this announcement, the price of Bitcoin dropped quite a bit. But Musk added fuel to the fire with another tweet, sending the price of Bitcoin below the $ 44,000 mark.

For the uninitiated, Elon Musk, who is a fervent supporter of cryptocurrencies, shared a tweet recently, hinting that Tesla may have sold his Bitcoin holdings. Well, it wasn’t a direct tweet, per se. It was a reply to a tweet from an unverified account nicknamed Mr. Whale (@CryptoWhale). You can see it below.

As you can see, the tweet suggests that Tesla has “ditched” its Bitcoin holdings citing the amount of hate Musk is receiving after his earlier decision to ban customers from buying Tesla cars with Bitcoins. To this, Musk responded with “Indeed.”

Now, this does not specifically verify the statement that Tesla sold its Bitcoin holdings. Musk’s “In fact” could also mean that he agrees with the latest statement pointing to the amount of hate he has been receiving online. However, a simple response from Musk further reduced the value of Bitcoin which is now trading below the $ 45,000 mark.

So according to Coindesk, the current rate of Bitcoin is around $ 45,748 (at the time of writing this article), as the value has fallen more than 8% in the last 24 hours.

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