Elon musk tweet about cryptocurrency

When one man can move a near-trillion dollar market by as much as 20 per cent with a tweet, it ought to be a wake-up call for investors and regulators. Elon Musk has now shown, quite consistently, that he can cause the price of bitcoins — and other cryptocurrencies — to soar or tumble in response to his somewhat erratic but plentiful contributions on Twitter. Tesla chief Elon Musk has been moving cryptocurrency markets with his tweets. Credit: AP. Mining bitcoin consumes more energy than Norway.

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WATCH RELATED VIDEO: Elon Musk Wrecks Crypto Coin With ONE Tweet

Bitcoin is bouncing back after Elon Musk's tweets cause a roller coaster of volatility

The billionaire and Tesla CEO have made several tweets about cryptocurrency for a year and all of those tweets made headlines for causing fluctuations in cryptocurrency prices. Most of his tweets were particularly affecting Bitcoin and Dogecoin, of course.

We are concerned about the rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.

This tweet shook the Bitcoin price chart in May Two months prior to May, Elon Musk announced his support for Bitcoin stating that Tesla would accept payments in Bitcoins. Hence, investors were boggled with confusion when the prices dipped drastically and decided to sell in haste. Over the months, it has become clear that Elon Musk is the puppeteer and cryptocurrencies are his puppets.

While it might not be intentional, investors have to agree that the future of their cryptocurrency investment is partly controlled by one man. In another tweet, the billionaire announced that his other company SpaceX would start accepting Dogecoin for payments.

Too many experts and serious investors, these price manipulations are big red flags. Once a supporter of Bitcoins and later puzzled by his own decision, what more can he do is the question that is asked a lot. Director of data and indexes at CoinDesk, Galen Moore has a similar opinion. All cryptocurrencies are not subject to US securities law, hence they are often overlooked. For this, the Securities and Exchange Commission has been urging to rectify the lack of regulations and potential for fraud and manipulation regarding cryptocurrencies.

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How a Single Elon Musk Tweet can Change Cryptocurrency Prices

For decades, the iconography of McDonald's has become part of our popular culture, with its mascots sparking everything from toys to science-fiction movies to countless pieces of merchandise. Apparently, the fast food tycoon is now headed into the word of cryptocurrency — after a bizarre series of events. The official McDonald's Twitter account then tweeted it would do so if Tesla began to accept "Grimacecoin", a hypothetical currency based on the McDonald's mascot Grimace. The only caveat is that these Grimacecoins are not affiliated with McDonald's in any official capacity, as the outlet confirmed to Fortune. This whole ordeal began from another association between McDonald's and the world of cryptocurrency, as the prices of Bitcoin and cryptocurrency began to fall earlier this week.

Musk's tweets often cause wild swings in the crypto market.

Elon Musk bats for Dogecoin again; makes this offer to McDonald's

Tesla has suspended vehicle purchases using Bitcoin due to climate change concerns, its CEO Elon Musk said in a tweet. Tesla's announcement in March that it would accept the cryptocurrency was met with an outcry from some environmentalists and investors. But on Thursday, it backtracked on its previous comments. He also said the electric carmaker would not sell any of its Bitcoin, and intends to use it for transactions as soon as mining shifts to using more sustainable energy. Market analysts see the move as an attempt by Tesla to assuage the concerns of investors who are focused on climate change and sustainability. Elon Musk is hardly ill-informed when it comes to both technology and the environment. When I interviewed him in he spoke passionately about Tesla's mission to make transport sustainable in the battle against the "existential threat" of climate change. So it is somewhat surprising that he has only just woken up to the fact that Bitcoin is not exactly a green project.

Bitcoin slips after Musk tweets a broken heart emoji with Linkin Park song

elon musk tweet about cryptocurrency

Tesla billionaire Elon Musk has thrown his weight behind the meme cryptocurrency dogecoin at the expense of bitcoin and ethereum. Tesla billionaire Elon Musk has thrown his weight behind the meme cryptocurrency dogecoin, at the expense of bitcoin and ethereum. Musk replied to a YouTuber on Twitter who had posted his enthusiasm for dogecoin after a new update. This is responsible for the rules and parameters of the blockchain, which in turn affects the transaction time, consensus algorithm etc, according to Coin Market Cap.

Dubious new cryptocurrencies have been launched this weekend, apparently directly inspired by Elon Musk tweets.

Elon Musk breaking up with Bitcoin? Cryptocurrencies slide after cryptic tweet

By Keith Griffith For Dailymail. Angry attendees of the world's biggest Bitcoin conference lashed Elon Musk after his latest tweet about the cryptocurrency tanked its value by seven per cent. One guest at the Miami event was seen wearing a t-shirt emblazoned with the words 'Stick to Space, Elon' - a reference to Musk's successful SpaceX business. Musk was notably absent from the speakers list at this weekend's Bitcoin convention - the largest such event ever organized for the burgeoning cryptocurrency. Other guests who spoke include Twitter CEO Jack Dorsey and boxer Floyd Mayweather - who was booed after claiming there would some day be another cryptocurrency as large as Bitcoin.

Elon Musk Tweet Causes Cryptocurrency to Go Up 1000%

He caused an alarm in the cryptocurrency world after he released a statement that Tesla will not accept Bitcoin for its products —in a reversal of an earlier decision. The sell-off began after China on Wednesday said cryptocurrencies would not be allowed in transactions by banks or other payments partners and warned its citizens form engaging in speculative trades in them. Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrencies, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday. Trading in cryptocurrencies has been banned in the country since to prevent money laundering. Follow us on :.

Collapse episodes are only observed in Bitcoin. We relate price explosivity to Elon Musk's tweets. His cryptocurrency-related general tweets.

Dog-themed cryptocurrency surges 3,500% after Elon Musk Christmas tweet

Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The billionaire's tweets have in the past caused coins such as bitcoin, dogecoin and even shiba inu to rise in price, although his post on Wednesday didn't elicit much reaction in the market. Read the original article on Business Insider.

"Exactly": Elon Musk's One-Word Advice For All Cryptocurrency Investors

RELATED VIDEO: Explained: Why cryptocurrency jumps and falls on Elon Musk's tweets

More Videos Elon Musk meets with bitcoin miners about energy use. TV star has new role: Crypto critic. Crypto: The future of money or the biggest scam?

His post made use of an old image, once often used as a meme on social media, that showed a man ignoring a host of women to instead focus on his computer. It gained less than 2 per cent in the wake of his tweet, but was still down almost 4 per cent over the day.

The 5 Elon Musk Tweets That Rocked the Crypto World This Year

DOGE up by 6. Russian finance ministry says it may regulate crypto not ban it. The age of majoritarianism has birthed a second wave of identity politics across India. As five states are ready to go to polls At no time do the politics of identity play out more spectacularly than during an Indian election. This poll season is no different While the global crypto trading volume declined by

Dogecoin Recovers Losses on Yet Another Elon Musk Tweet

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