Updated: May 18, 2021 10:32:03 am
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.
— Elon Musk (@elonmusk) May 16, 2021
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.
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:
— kevin fernandes (@myselfkev_in) May 17, 2021
— Bitcoin Armada (@BitcoinArmada) May 17, 2021
— Tomasz Wiśniewski (@wisniewskifx) May 17, 2021
— Tek Tonic India (@ApplotC) May 17, 2021
— VincentVanDogeArt (@doge_vincent) May 17, 2021
— Aaron Whyte 🇦🇺♠️💾 (@mebsites) May 17, 2021
— El Cryptino (@CryptoFads) May 17, 2021
— 👑Boss Lady👑 Tekstoreng (@barliqees) May 16, 2021
— yasser_jin (@yasser_jin) May 16, 2021
— 𝐊𝐢𝐧𝐠 𝐀𝐡𝐦 𝐉𝐫.🌪 (@King_ahm_jr) May 13, 2021
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.
To clarify speculation, Tesla has not sold any Bitcoin
— Elon Musk (@elonmusk) May 17, 2021
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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