As you probably know by now, Elon Musk has been manipulating the crypto market and this led to the weak hands selling Bitcoin these past days.
The other day, BTC hit a dip of $30k and thirsty investors bought this dip, of course.
Musk dropped another relevant tweet on social media, implying that Tesla is not selling any BTC.
Tesla has 💎 🙌
— Elon Musk (@elonmusk) May 19, 2021
People are angry with Musk for his manipulations and they make sure to tell him this via the comments.
Someone said: “You’re the most hated person in the world right now. All of my friends, myself included, went from die-hard Elon/Tesla/SpaceX/Neuralink fans to hating you from deep within our souls. How you accomplished that in such a short amount of time is one for the history books.”
Market manipulation
CNBC notes that the king coin plunged as much as 30% on Wednesday to just above $30,000, its lowest level since late January, according to Coin Metrics.
This means that BTC has now erased all its gains following Tesla’s announcement that it would purchase $1.5 billion worth of the crypto.
Musk’s messaging on Tesla’s BTC position has been mixed.
“On May 12, he said Tesla had suspended vehicle purchases using bitcoin, citing environmental concerns over the mining process. After that, $300 billion was wiped off the entire cryptocurrency market over the same day,” according to the online publication mentioned above.
Musk also suggested on Twitter over the weekend that Tesla might sell its BTC holdings, but later clarified that the company would not sell.
Anyway, the important thing is that strong hands know that Musk is simply a troll and they made sure to hold through all of this and to buy the dip as well.
Crypto lover and Bitcoin maximalist on the other hand are doing something else. Check out Michael Saylor’s tweet.
Entities I control have now acquired 111,000 #BTC and have not sold a single satoshi. #Bitcoin Forever.
— Michael Saylor (@michael_saylor) May 19, 2021
Stay tuned for more news.
