Tesla has 💎 🙌
— Elon Musk (@elonmusk) May 19, 2021
Interesting. pic.twitter.com/8mTcnwFoLl
— TradingView (@tradingview) May 19, 2021
$117,303.00
-2.22%$3,072.75
2.08%$2.93
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-1.08%Reading
Shortly after the entire cryptocurrency market shed more than $500 billion, Tesla and SpaceX CEO Elon Musk took to Twitter to assuage his followers.
Musk tweeted (in emoji form) that Tesla has “diamond hands,” tapping into a popular meme that means holding onto an investment even as the price drops.
Tesla has 💎 🙌
— Elon Musk (@elonmusk) May 19, 2021
The tweet suggests Tesla will not sell its Bitcoin holdings any time soon, and it had the expected effect: Bitcoin, which had begun rebounding just before his tweet, accelerated its bounce, up nearly 9% since the tweet was posted.
Interesting. pic.twitter.com/8mTcnwFoLl
— TradingView (@tradingview) May 19, 2021
Tesla bought $1.5 billion worth of Bitcoin on February 8 to diversify its cash balances, and the purchase sent the whole crypto market higher. At that time, Tesla also said it would begin accepting Bitcoin as payment for its vehicles. Last week, exactly three months later, Musk shocked Bitcoiners when he reversed course and said Tesla will no longer accept Bitcoin due to environmental concerns. That immediately sent Bitcoin lower in a slide that has not yet stopped.
Another Musk tweet on Sunday in response to someone predicting Tesla will dump its Bitcoin ("Indeed") spooked crypto markets even further. But now it sounds like Musk is saying Tesla will hold on.
Tesla's Q1 earnings report did reveal that Tesla sold $272 million of BTC in late March, but Musk and Tesla’s CFO claimed the move was a test of Bitcoin's liquidity.
SharpLink Gaming acquired $225 million worth of Ethereum earlier this month, the company said in a press release on Tuesday, adding to its industry-leading holdings. The Minneapolis, Minnesota-based firm now said it now owns roughly 280,000 Ethereum worth $846 million. The company first purchased the asset just over a month ago. As of Tuesday, the Ethereum Foundation owned around 217,500 Ethereum worth $655 million across several networks, according to crypto analytics platform Arkham Intellige...
British banking giant Standard Chartered became the first "too big to fail" bank to offer Bitcoin and Ethereum trading through traditional currency platforms on Tuesday, crossing a line that its peers have cautiously approached for years. The bank will run Bitcoin and Ethereum spot trading services for institutional clients from its U.K. branch, enabling them to execute trades through the same foreign exchange systems they already use. “Digital assets are a foundational element of the evolution...
Grayscale has confidentially submitted preliminary paperwork with U.S. regulators that could lead to the listing of its shares on the public market, the asset manager said Monday in a statement. The firm filed a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission, according to the press release. Grayscale did not disclose the number of shares it plans to register, nor the price range for the proposed registration. Draft S-1’s are introductory filings, enabl...