In brief
To clarify speculation, Tesla has not sold any Bitcoin
— Elon Musk (@elonmusk) May 17, 2021
$120,164.00
1.79%$3,594.92
7.73%$3.62
19.32%$733.04
2.52%$180.61
6.04%$0.99987
0.01%$0.23279
10.26%$3,584.50
7.56%$0.856031
14.50%$0.32345
4.25%$46.63
1.53%$119,962.00
1.55%$0.496757
9.76%$4,335.23
7.13%$4.03
3.27%$18.55
12.72%$0.285457
23.62%$24.26
9.20%$510.23
3.55%$3,850.76
7.59%$0.00001509
5.42%$3,595.14
7.68%$8.95
1.66%$3.27
4.32%$105.70
9.86%$0.999833
-0.01%$1.001
0.05%$4.41
7.15%$45.86
2.18%$337.03
-0.27%$120,233.00
1.89%$9.95
13.53%$0.00001372
3.67%$1.002
0.06%$4.85
3.56%$325.07
2.31%$427.30
1.26%$0.122536
16.26%$2.90
8.10%$5.40
5.58%$0.445146
1.21%$1.064
12.89%$1.18
0.14%$21.39
9.53%$5.96
7.76%$219.83
6.15%$47.51
0.62%$0.841853
14.88%$1.00
0.00%$0.31834
12.99%$0.00003556
-4.26%$0.098991
8.85%$0.39461
7.47%$0.02787787
11.23%$0.459366
6.10%$5.00
6.65%$0.245878
8.21%$1.001
0.07%$4.25
7.29%$3,594.85
7.97%$0.361271
3.27%$0.797128
3.95%$10.35
5.45%$1.15
4.48%$16.39
3.36%$4.51
0.21%$0.03041882
-0.84%$2.80
7.15%$1.059
-0.01%$0.00498509
-7.03%$120,254.00
2.09%$191.29
5.69%$0.080593
-0.37%$1.83
2.52%$3,763.45
7.81%$4,097.13
7.47%$0.561634
6.16%$115.93
2.76%$4.99
2.88%$11.99
2.50%$1.49
9.01%$0.02130377
18.67%$0.998225
0.01%$1.00
0.05%$2.00
3.84%$1.025
11.49%$14.22
7.40%$0.873699
7.96%$0.999632
0.08%$0.083745
8.85%$1.34
2.74%$3,827.31
7.09%$4.55
6.17%$0.747294
8.01%$3,625.43
3.66%$0.400679
7.37%$0.00013356
4.06%$3,881.63
7.58%$1.86
7.53%$3,780.91
7.82%$1.001
0.03%$119,792.00
1.44%$0.582522
8.89%$1.098
4.31%$0.109346
7.02%$0.172241
13.15%$0.999703
0.02%$1.096
19.89%$203.09
6.25%$0.249694
12.28%$119,923.00
1.69%$732.99
2.61%$28.58
8.82%$3,338.43
-0.24%$121,175.00
2.18%$2.66
5.89%$0.580284
5.34%$236.64
6.27%$0.896969
7.96%$1.11
0.03%$0.999843
0.01%$11.13
54.52%$0.01922677
7.44%$0.01774606
6.67%$3,335.73
-0.05%$0.332851
6.87%$0.939421
4.15%$2.96
2.57%$3,831.58
7.41%$3,592.75
7.56%$0.134389
9.29%$3,763.25
6.13%$46.10
5.15%$0.687557
5.58%$111.83
0.01%$2.20
7.12%$4.27
3.77%$1.98
5.67%$0.00000071
2.51%$0.264461
0.09%$3.69
19.23%$0.99896
0.05%$0.418752
5.19%$119,786.00
1.73%$0.999722
-0.02%$0.01879164
0.59%$0.337235
7.68%$0.00000164
1.31%$0.463261
2.98%$1.092
-0.08%$3,595.66
7.63%$0.062904
4.05%$0.373698
4.74%$0.00654281
6.53%$0.00877043
-1.00%$0.233451
11.39%$118,850.00
0.80%$1.68
5.26%$0.997718
0.01%$0.00987899
15.94%$29.18
2.25%$0.574429
5.67%$0.111706
14.16%$120,138.00
1.77%$1.35
4.64%$46.64
1.72%$1.001
0.04%$3,827.93
7.97%$3,595.17
7.68%$0.68786
4.79%$0.074578
3.67%$0.146876
3.85%$3,966.57
7.65%$1.00
0.00%$0.205243
7.80%$1.16
0.06%$0.673984
5.10%$0.422506
5.64%$7.59
6.15%$1.57
9.82%$1.00
0.23%$3,576.35
6.79%$6.99
7.93%$0.457552
-1.95%$0.488921
0.09%$17.08
5.64%$51.47
4.12%$0.443088
2.76%$3,933.62
7.63%$0.223071
3.73%$0.00000047
3.98%$0.331661
2.96%$8.08
-0.89%$46.52
1.55%$0.062377
5.56%$2.70
5.07%$0.00002241
2.51%$0.094222
9.16%$3,573.50
6.85%$10.75
0.01%$3,592.48
7.73%$0.04359886
5.34%$1.74
2.80%$0.00414502
2.46%$0.158865
4.33%$1.093
-0.04%$0.999893
0.01%$0.998496
-0.49%$0.895992
7.05%$4,332.91
7.33%$0.00779417
7.53%$119,321.00
2.41%$0.00578261
2.29%$0.577252
4.87%$0.405194
0.35%$0.997636
-0.36%$197.77
6.39%$146.58
5.70%$1.40
2.09%$0.03846087
2.75%$0.576896
4.87%$0.378887
4.76%$29.45
8.82%$1.00
0.02%$12.75
4.70%$0.01927983
2.28%$4.43
-10.41%$0.0000651
2.59%$24.24
8.95%$120,069.00
1.61%$0.245682
8.07%$0.780979
12.47%$0.03321448
1.27%$0.838672
2.94%$0.999937
0.03%$3,758.15
7.24%$0.00412439
5.48%$0.755629
2.72%$20.87
-1.49%$1.15
1.44%$0.00374118
-5.34%$0.330202
8.59%$4,055.03
7.61%$7.45
8.45%$0.774734
6.38%$1.002
0.16%$0.999466
0.00%$0.00000153
1.93%Reading
The price of Bitcoin dropped to lows of $42,024 on Monday morning, continuing its downward trend from last week and marking a fall of 16% from its Saturday high of $50,615.
Although Bitcoin has since recovered to its current value of just under $45,000, it marks a continuing slide in the cryptocurrency’s price following Tesla CEO Elon Musk’s announcement that the carmaker would stop accepting Bitcoin as payment.
Tesla’s move was prompted by concerns over the cryptocurrency’s environmental impact, Musk explained. “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” the Tesla CEO said in a tweet last week.
Over the weekend, crypto prices continued to tumble after Musk responded to a suggestion that “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings,” with the single word, “Indeed." Musk later noted in a tweet that “to clarify speculation, Tesla has not sold any Bitcoin."
To clarify speculation, Tesla has not sold any Bitcoin
— Elon Musk (@elonmusk) May 17, 2021
On May 12, before Musk’s announcement that Tesla would stop accepting Bitcoin, the cryptocurrency’s price was as high as $57,700.
Since then, however, it has steadily decreased. According to CoinGecko, Bitcoin is down 8% in just the last 24 hours. In the last week, Bitcoin has fallen by 22%.
The downward trend is the latest in a long line of examples where Elon Musk’s tweets have moved the Bitcoin market.
Three months prior to his U-turn, Musk appeared to be all-in on Bitcoin, overseeing Tesla’s whopping $1.5 billion investment in the flagship cryptocurrency on February 8, 2021.
What a weird week it was in cryptoland. But then again, isn't every week? Last Saturday, Elon Musk gave us a textbook example of "buy the rumor, sell the news." He helped send Dogecoin, his favorite meme token to pump on Twitter, on a rocket ride in the days leading up to his "Saturday Night Live" hosting debut—until the ride abruptly ended minutes before SNL started. By the time Musk's mother Maye Musk name-dropped DOGE in the opening monologue, the coin was sinking fast—it fell from 62 cents...
One hour after Tesla’s investment became known, Bitcoin surged by almost 10% to what was then an all-time high of $44,790.
Musk’s impact on the crypto market is well-documented; when the Tesla CEO updated his Twitter bio to #Bitcoin, the Blockchain Research Lab found that Bitcoin’s price increased by over 18% as a result.
It certainly feels like altcoin season is in the air. With Bitcoin trading sideways today, crypto traders appear to have their eyes set elsewhere: Ethereum has surged past the $3,300 mark, currently trading at $3,339.13 after a strong 20% weekly gain. XRP is up another 12% today, eclipsing its 2018 all-time high. Could Solana, the Ethereum rival sitting just outside of the top 5 coins by market cap, be next? The macro picture continues to look promising for risk assets. The cryptocurrency market...
Ethereum exchange-traded funds generated more than $726 million in investments on Wednesday, the highest level in their nearly year-long trading history, as the price of their underlying asset rose to its highest level since January. The nine funds have collectively netted $2.3 billion over a nine-day streak of inflows dating to July 3, according to UK asset manager Farside Investors. Ethereum was recently trading just below the $3,500 mark on Thursday, continuing its own recent momentum with a...
The price of XRP rose to a record high on Thursday, soaring past a seven-year-old milestone amid broader momentum for altcoins in the cryptocurrency market. The Ripple Labs-linked coin was recently changing hands around $3.41, rising more than 36% over the past week, according to crypto data provider CoinGecko. The previous record was $3.40, set all the way back in January 2018. Ethereum and Solana had also outperformed Bitcoin’s weekly 5.5% rise, meanwhile jumping 21% and 8%, respectively. The...