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This is an archive article published on May 17, 2021

Twitter flooded with meme and jokes as Bitcoin price further plunges after Elon musk’s tweet

As Musk and his Tweets continue to impact the cryptocurrency markets, netizens took to Twitter, sharing memes and jokes on the matter.

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Elon Musk, Elon Musk Twitter, Bitcoin price, Crypto currency market, Bitcoin memes, Elon Musk and Bitcoin memes, Bitcoin price drops Twitter reactions, Trending news, Viral news, Indian Express news.Musk has been an avid supporter of the cryptocurrency and his company back in February announced that it had purchased $1.5 billion in Bitcoin and planned to accept it as payment.

The price of Bitcoin further plunged on Sunday after Tesla CEO Elon Musk suggested, in a tweet, that his company may or may not have sold off its Bitcoin holdings. The cryptocurrency traded below $45,000, the lowest since February.

Musk’s tweet was in response to an unverified Twitter user, who 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…”.

Musk replied saying “indeed”, without suggesting whether Telsa had sold their Bitcoin holdings or was planning to do so.

Earlier on May 12, Musk in a tweet had said that his company has discontinued accepting the cryptocurrency as a form of payment due to environmental concerns. The cryptocurrency dropped as much as 15% to just above $46,000, in the immediate aftermath of the Tesla CEO’s tweet.

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As Musk and his Tweets continue to impact the cryptocurrency markets, netizens took to Twitter, sharing memes and jokes on the matter. Take a look at some of the reactions under the trending hangtags #Elon and #Bitcoin:

As speculation continued on the microblogging site, Musk himself cleared the air on Monday and said that his company has not sold off its Bitcoin holdings. “To clarify speculation, Tesla has not sold any Bitcoin,” the Telsa boss tweeted.

Musk has been an avid supporter of the cryptocurrency and his company back in February announced that it had purchased $1.5 billion in Bitcoin and planned to accept it as payment.

That announcement added legitimacy to the cryptocurrency as an increasingly acceptable form of payment and investment.

(With inputs from Reuters)

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