Bitcoin purchase elon musk

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Tesla has stopped accepting bitcoin as payment for its cars out of concern that it will contribute to greater consumption of fossil fuels, according to a statement CEO Elon Musk tweeted Wednesday. Tesla had only just started accepting bitcoin in late March.

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Content:

• Tesla Discloses $1.5 Billion Purchase of Bitcoin in Latest SEC Filing
• Elon Musk says Tesla will ‘most likely’ accept bitcoin again when it becomes more eco-friendly
• Why have Elon Musk and Tesla suddenly turned against bitcoin?
• Doge days: Elon Musk and Tesla place double bet on cryptocurrency
• Tesla (TSLA) CEO Elon Musk Again Moves Crypto Prices
• Musk drives up bitcoin price with $1.9b purchase
• Bitcoin price tops US$40,000 after Musk says Tesla could use it again

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Tesla Discloses $1.5 Billion Purchase of Bitcoin in Latest SEC Filing

Tesla chief Elon Musk said on Friday the electric carmaker will accept the cryptocurrency Dogecoin as payment for its merchandise. The meme-based crypto jumped on Friday as much as 14 per cent in 24 hours, according to pricing from Coinmarketcap.

Musk has hinted at the move for some time. The Tesla chief has called Doge the "people's crypto" in a tweet in , causing it to soar around 4, per cent. In December, Musk said in a tweet that Dogecoin will be allowed on a test basis to purchase its merchandise. The news sent the cryptocurrency up more than 20 per cent. Dogecoin was created as an initial joke by two software engineers, who were making fun of the wild speculation of cryptocurrencies. Doge is considered the first "Meme coin".

This content is not available in your region. Dogecoin surged by as much as 14 per cent on the news. Bitcoin ban: These are the countries where crypto is restricted or illegal Bitcoin's rocky reign and the rise of memecoins: Why was crypto's wildest year yet.

Elon Musk announces Tesla will start accepting Dogecoin as payment Elon Musk rejects claims his satellite company Starlink is hogging space after near-miss claims. Biztech news. The exchange.

Elon Musk says Tesla will ‘most likely’ accept bitcoin again when it becomes more eco-friendly

Elon Musk tweeted Wednesday that Tesla has suspended sales of its vehicles using bitcoin due to concerns about fossil fuels. Concerns about the energy use of bitcoin mining have been a major criticism of the cryptocurrency. Tesla isn't selling its bitcoin, Musk said. He didn't explain the rationale for maintaining its stake, but exiting the position would presumably require energy-intensive transactions.

Why have Elon Musk and Tesla suddenly turned against bitcoin?

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. As Elon Musk tweets go, so goes the crypto market. The billionaire and Tesla CEO has been tweeting about crypto a lot, too, sending the price of bitcoin — as well as dogecoin — up and down with fewer than characters. They also raise questions about the solidity of a market that can be so easily swayed, especially as retail investors increasingly flock to cryptocurrencies. In April, the cryptocurrency exchange platform Coinbase became the first major cryptocurrency company to go public in the US, signifying the mainstreaming of blockchain-based currencies like bitcoin, ethereum, and dogecoin. The current price roller coaster got started back in May. Musk tweeted that Tesla would no longer accept bitcoin as payment due to environmental concerns about its heavy energy use, a reversal of its acceptance of the marquee cryptocurrency just two months earlier. As a result, the price of bitcoin dropped around 15 percent.

Doge days: Elon Musk and Tesla place double bet on cryptocurrency

Subscribe to our premium newsletter - Crypto Investor. There has long been speculation that SpaceX also purchased Bitcoin after Tesla. I understand that SpaceX owns Bitcoin on its balance sheet," said Scaramucci. No living person has done more to protect the planet against climate change. Based on the time that Tesla purchased Bitcoin, and the amount of money used, it can be assumed that Tesla has roughly 43, Bitcoin.

Tesla (TSLA) CEO Elon Musk Again Moves Crypto Prices

Want to discuss? Please read our Commenting Policy first. He later said the electric car maker would not accept bitcoin due to concerns over how mining the currency requires high energy use and contributes to climate change. Bitcoin, which jumped nearly 10 per cent on Sunday, breaking above its day moving average, was up 4. Bitcoin was also supported Monday after billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday that bitcoin is a great way to protect his wealth over the long run and is part of his portfolio just like gold.

Musk drives up bitcoin price with $1.9b purchase

Since Feb. Bitcoin rose when Tesla said it would start taking bitcoin in payment for its cars. Bitcoin fell again Sunday when Musk seemed to hint, in a Twitter exchange with a noted bitcoin bull, that Tesla had sold its bitcoin holdings. The fear is that his relentless whipsawing of prices is bad for the reputation of bitcoin and other cryptoassets as well. You may occasionally receive promotional content from the Los Angeles Times.

Bitcoin price tops US$40,000 after Musk says Tesla could use it again

His posting was in reply to a report in Cointelegraph, which cited Ms Magda Wierzycka, executive chair of South African asset manager Sygnia, as saying that Mr Musk's recent tweets on Bitcoin should have prompted an investigation by the United States Securities and Exchange Commission. The cryptocurrency gained as much as 9. Mr Musk has whipsawed Bitcoin and other digital tokens in the past few months.

Musk is currently in Germany where he met with vaccine maker CureVac, with which Tesla has a cooperation to build devices for producing RNA vaccines, yesterday. Today, he is rumoured to also be visiting the site of the new Gigafactory under construction near Berlin. Everyone knows about the massive Tesla Bitcoin purchase by Elon Musk right at the start of this year, marking one of the largest investments of the company in the online cryptocurrency up to date. What people do not know is that this was because of a series of exchanges from the tweets from one CEO to another, particularly with MicroStrategy's Michael Saylor.

While bitcoin only managed to return As a result, many cryptocurrency prices were more dictated by the value and functionality of their protocol and applications rather than their correlation to bitcoin. Litecoin and Bitcoin Cash also provided meagre double-digit percentage returns, as payment-focused cryptocurrencies were largely ignored for projects with smart contract capabilities. Ethereum greatly outpaced bitcoin in , returning While many new cryptocurrencies with strong functionality and unique use-cases were rewarded with strong returns, it was memes that powered the greatest returns in cryptocurrencies this past year. After the roller coaster ride of last year, started with a positive catalyst for Dogecoin holders as Elon Musk announced DOGE can be used to purchase Tesla merchandise. The intersection between crypto, games, and the metaverse became more than just a pipe dream in

The Tweet was posted less than 2 hours ago, and it has already received over 1 million votes with 21 hours still to go. The car manufacturer asked:. Do you support this? I will abide by the results of this poll, whichever way it goes.