Tesla dumps bitcoin

Significant price fluctuations are common in the famously volatile cryptocurrency market, but there's a curious trend emerging over the last year or so: whenever Tesla and SpaceX CEO Elon Musk tweets about a crypto coin, the price often shoots to the sky or sinks like a stone. The market is susceptible to the changing winds of social media sentiment , and Musk has become the face of that up-and-down action thanks to his expansive reach, including 57 million Twitter followers. He's a champion to Dogecoin investors in particular, as his frequently shared memes and goofy tweets often result in a notable price leap for the "joke" coin. However, Musk's recent dabbling in the Bitcoin market has lost him some fans in the process, given how much the price has dipped following big news he shared from Tesla. Here's a look at how Musk's Twitter use has impacted the crypto markets. As the CEO of multiple major firms, Musk's public affection for Dogecoin and its community might catch some investors off-guard.

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Content:

• Bitcoin Drops After Musk Suggests Tesla May Sell Holdings, Says It Hasn't Yet
• Elon Musk hints Tesla has dumped Bitcoin holdings
• Cryptocurrency pump-and-dump schemes: What you should know about these scams
• 'I might pump, but I don't dump': Elon Musk says he owns Bitcoin, Dogecoin and Ethereum
• “Is it you Elon?” Mysterious Dogecoin Address Holds 27% of DOGE’s Supply References Tesla’s CEO
• "I Pump But I Don't Dump": Elon Musk On Bitcoin, Other Cryptocurrencies

WATCH RELATED VIDEO: Tesla dumps Bitcoin: Backflips on accepting Bitcoin as paymet

Bitcoin Drops After Musk Suggests Tesla May Sell Holdings, Says It Hasn't Yet

Of course, this was before Trump got banned from Twitter. Now, Elon Musk is on the top of the list for tweeting quirky and funny stuff.

Especially, Elon Musk is very vocal about cryptocurrencies. On the other hand, Dogecoin is also a ball that Elon Musk keeps on the court rolling.

Henceforth, Analytics Insight has listed his top tweets on Bitcoin and cryptocurrencies that impacted the digital currency market. This came as a big shock to cryptocurrency enthusiasts.

Elon Musk is very vocal about cryptocurrencies in general and was fond of Bitcoin for a long time. But his sudden u-turn bit the Bitcoin price. However, critics call this move a green promotion.

Just a couple of days before denouncing Bitcoin, Elon Musk asked his followers in a poll on Twitter whether Tesla should accept payment in Dogecoin, the meme-inspired cryptocurrency that began as a social media comedy content in He took the decision-making to another level by conducting a poll on the microblogging site.

Besides putting out tweets every now and then, Elon Musk is also very active when it comes to replying to tweets that he is tagged in. When a Twitter user questioned Elon Musk if he is buying Bitcoin and pumps the price up to and dumps it and makes a fortune, the multimillionaire answered that he had got it all wrong.

Musk pressed that he has not sold any of his Bitcoin. How crazy can the cryptocurrency market be? To begin with, the tweet by the technology entrepreneur was not related to cryptocurrencies. Three weeks later, the term has become the name for a new cryptocurrency. But experts warned that Dogecoin price volatility is high and there is a wider range of risk in the cryptocurrency. Join Now.

Elon Musk hints Tesla has dumped Bitcoin holdings

Much of the market commentary has been focused on that but there is another, arguably more important aspect to this — namely, the role of Bitcoin as a treasury asset. Kirkhorn sees Bitcoin as an alternative store of value that does not compromise liquidity. This is key when it comes to risk management. Musk also explained that he had chosen to retain his personal investment in Bitcoin. However, the company also made it clear that a long-term strategic position rather than fly-by-night approach is key. As Bitcoin grows more valuable and global crypto markets become increasingly more regulated, I think we will see an acceleration of corporate treasurers working to become a bit more tech savvy and better understand this emerging asset class. Request demo.

Cryptocurrency pump-and-dump schemes: What you should know about these scams

Of course, this was before Trump got banned from Twitter. Now, Elon Musk is on the top of the list for tweeting quirky and funny stuff. Especially, Elon Musk is very vocal about cryptocurrencies. On the other hand, Dogecoin is also a ball that Elon Musk keeps on the court rolling. Henceforth, Analytics Insight has listed his top tweets on Bitcoin and cryptocurrencies that impacted the digital currency market. This came as a big shock to cryptocurrency enthusiasts. Elon Musk is very vocal about cryptocurrencies in general and was fond of Bitcoin for a long time.

'I might pump, but I don't dump': Elon Musk says he owns Bitcoin, Dogecoin and Ethereum

Credit: AP. Everything that the CEO of Tesla does or speaks becomes the most influential statement. Recently, Elon Musk wrote something on his official Twitter handle, which left millions to wonder his motive behind it. This simple tweet made headlines as earlier, Elon admitted Dogecoin as the most robust cryptocurrency.

“Is it you Elon?” Mysterious Dogecoin Address Holds 27% of DOGE’s Supply References Tesla’s CEO

The finest and worst quotes, adoption and regulation highlights, main cash, predictions and rather more — per week on Cointelegraph in one hyperlink. On Tuesday, Mastercard introduced that it will likely be launching crypto-linked fee cards throughout the Asia-Pacific area that may allow customers to immediately convert their digital property into fiat forex. The cards are being launched in collaboration with three crypto service suppliers: Amber Group and Bitkub in Thailand, and CoinJar in Australia. While Adams welcomed the project to New York this week, CityCoins has but to formally companion with the native authorities. According to filings with the U.

"I Pump But I Don't Dump": Elon Musk On Bitcoin, Other Cryptocurrencies

Bitcoin hit some unfamiliar depths over the weekend as Elon Musk continued his testy Twitter tirade. Fresh from his sudden announcement that Tesla would no longer accept Bitcoin BTC owing to environmental concerns, the South African entrepreneur again put the boot in with a series of messages and arguments over cryptocurrency. And so the unsightly exchanges rumbled on. There was even a veiled and eyebrow-raising threat of Tesla dumping all its Bitcoin holdings, but how serious that was may depend on the mood the social media goading has left the fiery Tesla chief in. Instead, there is a growing sense that Musk — clearly not a dim-witted businessman — has something up his sleeve. In many circles it is thought he is playing a long game, using his obvious influence to push the market down, then snap up another enormous amount of BTC before announcing that Tesla had made its peace with the flagship cryptocurrency and would accept it as payment again. There have even been suggestions that he is working on a solution to deliver the clean energy required to power Bitcoin mining, therefore eliminating much of its environmental impact. If this is indeed the case, then the masterful genius of the SpaceX supremo will be revealed.

Later, he clarified that Tesla hadn't sold any bitcoin. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups.

All rights reserved. Charles St, Baltimore, MD Through it all, TSLA stock has been declining, but not because of the aforementioned reasons. Rather, the declines the stock has seen this week have been predominantly driven by external factors. According to one industry expert, much of it can be traced back to the fact that the EV sector is facing a bumpy road in Today has been an interesting day for TSLA stock, which has just managed to shake off further losses.

When we wrote that crypto was crossing the Rubicon back in mid-December, we had a sense that things might get giddy. We highlighted the negative supply shock from bitcoin mining having halved in May, and the positive demand shock from institutional investors belatedly moving in. We posed this as the digital equivalent of virtue signalling and it has certainly intensified over the past few months. Although Elon Musk is the highest-profile case in point particularly now as Technoking of Tesla , social media users adopting profile pictures with laser beam eyes, including two members of US Congress, is the best illustration. Crypto signalling, like virtue signalling, has an underbelly too.

Musk was right back at it again on Sunday. The business mogul sent a vague tweet that struck a nerve with many crypto enthusiasts. As reported by Coindesk :. Bitcoin took a 3.