Bitcoin Fluctuate As Musk Comments
-
- May 18, 2021
On Monday morning, Bitcoin recovered at $45,000 per unit (approximately 894,379 Mexican pesos at current exchange rates), after dropping sharply to its lowest level on Sunday night since February 2021.
The blockchain plummeted 8%, after Elon Musk’s enigmatic letter that investors saw as a sign that his Tesla business sold all Bitcoins.
The tweet powered the cryptocurrency price up to 44,000 dollars (approximately 874,504 pesos), its lowest number weeks after Bloomberg.
But a recent Musk tweet cleared up the questions as Tesla refused to sell his Bitcoins. This resulted in a turnaround in the cryptocurrency market.
It’s not the first time Musk has triggered Bitcoin price shocks. A week ago, Tesla announced that he would stop taking bitcoins as a means of payment for the environmental impact that his mining has.
Also Read: The Art Of Doing 100% All Time
The Entrepreneurs Diaries is now available on Telegram. Join our telegram channel to get instant updates from TED.