As you probably know by now, Elon Musk found himself in hot water following some statements he dropped on Twitter the past week.
He dropped a tweet about Bitcoin that has the whole crypto Twitter unleashed.
Bitcoin was trading at around $57k the other day, and then suddenly, the king coin saw a drop in price of about 10% in the past 24 hours following Elon Musk’s tweet.
— Elon Musk (@elonmusk) May 12, 2021
Crypto Twitter went ballistic following this tweet.
Musk received a lot of backlash for this post.
He continued his ideas about crypto and made sure to highlight the fact that he does believe in crypto and he only wants renewable energy.
Check out his latest posts.
To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal
— Elon Musk (@elonmusk) May 13, 2021
Anthony Pompliano said: “Just announce the renewable energy miner already and let’s get on with it! Need you focused on getting us to Mars :)”
Musk clarifies Tesla and Bitcoin rumours
There’s been speculation that Tesla sold their Bitcoin and Musk wanted to clarify this:
To clarify speculation, Tesla has not sold any Bitcoin
— Elon Musk (@elonmusk) May 17, 2021
Here’s another significant post.
— Mr. Whale (@CryptoWhale) May 17, 2021
As the online publication Unlilad noted, the fragility of the crypto market is one of its biggest criticisms, but Emilie Choi, president and chief operating officer of crypto exchange Coinbase Global Inc., is not too concerned.
‘We’re looking at the long-term and so these blips, they don’t faze us. You’re looking for the long-term opportunity and you kind of buckle up and go for it,’ she told Bloomberg.
Investors are currently buying the dip, hoping that the crypto market will recover soon.