Elon Musk Stopped the Bitcoin Collapse with One Statement: We Didn't! - News-Credit-Mortgage-Coin


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Monday, May 17, 2021

Elon Musk Stopped the Bitcoin Collapse with One Statement: We Didn't!

The markets crashed with the statements of Tesla CEO Elon Musk and the rumors that his company was pouring BTC assets into the market. Now, Elon Musk has brought more clarity to the rumors about Tesla's Bitcoin holdings.

Elon Musk brings more clarity to rumors about Tesla's Bitcoin holdings

Tesla CEO Elon Musk has confirmed that the e-car maker does not sell any Bitcoin as of today. As we previously reported as Kriptokoin.com, Bitcoin (BTC) reached the level of $ 42,000 months later after Elon Musk hinted that Tesla would dump all of its assets into the market. Elon Musk, Mr. A Twitter user named Whale said, "When BTC investors realize that they are selling Bitcoins held by Tesla in the next quarter, they will slap themselves. Given the hatred towards Elon Musk, I wouldn't blame him… ”he replied,“ Absolutely ”.

With this statement, the leading crypto money suddenly deleted $ 8,000. The entire market, along with BTC, suffered huge losses and they are still struggling to recover. Elon Musk also claimed that Bitcoin is highly centralized because it is controlled by a handful of mining companies. Elon Musk said the following on the subject:

Bitcoin has a super large majority controlled by a handful of large mining (hashing) companies, it is actually highly centralized. A single coal mine in Xinjiang was flooded, nearly killed miners, and the Bitcoin hash rate dropped 35%. Does it seem "decentralized" to you?

Elon Musk confirmed that "they are not selling BTC" and BTC increased by 6 percent
After these statements, Bitcoin crashed and now rose with a single comment. Tesla CEO Elon Musk has confirmed that Tesla has not sold any BTC as of today. This announcement relieved the market and investors, and prices gained momentum. The BTC price saw an increase of 6 percent within minutes with the announcement of Elon Musk. Bitcoin immediately reduced some of its recent losses following Elon Musk's tweet.

The leading cryptocurrency is currently trading at over $ 44,600. Earlier today, the cryptocurrency fell to its lowest level since February 8. The billionaire recently criticized Bitcoin centrally after receiving strong criticism from the community, suggesting that Dogecoin could win against it. Tesla stopped accepting Bitcoin for vehicle purchases last week, but claimed it would keep the best cryptocurrency on its balance sheet.

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