#Bitcoin 💔 pic.twitter.com/lNnEfMdtJf
— Elon Musk (@elonmusk) June 4, 2021
The Elon Musk effect
$102,806.00
1.61%$2,310.41
12.71%$2.34
4.25%$634.83
2.09%$170.32
6.32%$0.999998
-0.00%$0.203691
6.83%$0.781014
6.59%$0.261541
2.39%$2,306.08
12.54%$102,733.00
1.77%$3.90
-0.15%$15.91
4.31%$23.04
8.18%$2,768.77
12.84%$0.295347
4.72%$0.00001493
6.85%$0.198974
3.85%$24.68
12.55%$3.25
1.57%$407.13
-3.19%$8.69
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0.01%$98.63
6.07%$4.74
9.69%$2,308.14
12.66%$304.13
2.92%$2,458.99
12.72%$4.46
0.57%$0.00001234
23.20%$0.999393
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1.83%$30.26
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1.76%$1.012
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8.68%$1.051
0.01%$19.14
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2.84%$4.91
5.53%$0.02943164
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4.44%$4.92
11.01%$0.836689
11.29%$1.001
0.10%$0.365749
17.11%$103,128.00
1.02%$1.17
0.18%$3.03
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14.91%$1.003
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6.18%$2,308.99
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10.03%$0.078157
2.83%$0.235996
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2.16%$1.001
0.15%$2,615.27
12.71%$0.110155
10.06%$0.756635
2.02%$0.00009863
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2.07%$219.83
6.24%$1.00
0.06%$0.01419846
0.90%$0.01827098
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8.89%$0.999744
-0.00%$2,460.09
13.01%$188.44
6.17%$0.01913452
12.99%$14.79
0.34%$102,759.00
1.69%$2.85
3.24%$3,344.39
0.89%$0.817016
10.15%$40.73
3.02%$0.3285
8.10%$103,165.00
1.72%$3,345.39
0.78%$101,871.00
2.43%$1.00
-0.01%$0.232577
4.49%$0.00000078
5.79%$0.076878
6.69%$0.609056
-2.39%$22.67
11.05%$4.09
4.65%$2.28
4.31%$2,409.17
12.40%$0.199498
35.22%$0.717073
8.10%$0.119173
0.83%$0.431564
7.88%$42.38
2.52%$0.34602
7.61%$0.997709
0.00%$0.619142
6.46%$2,411.64
12.81%$1.93
9.67%$0.997641
-0.24%$0.662791
8.01%$0.747723
2.85%$3.74
2.87%$0.01804529
-3.93%$1.11
-0.71%$0.0101441
8.84%$0.48072
5.75%$0.00597501
3.25%$18.85
13.49%$0.680978
11.36%$8.06
7.86%$0.485319
6.14%$110.98
0.01%$0.167893
17.48%$0.20369
6.85%$103,178.00
2.20%$1.47
9.01%$2,311.42
12.87%$0.621686
14.79%$0.998773
0.16%$2,313.12
12.86%$2,459.76
12.90%$0.194448
-5.34%$0.999998
0.02%$0.492009
1.76%$102,671.00
1.56%$0.06615
0.52%$0.00002378
4.85%$2,353.81
12.51%$101,166.00
5.21%$2.85
10.28%$3.84
13.45%$6.49
6.20%$0.999998
-0.00%$0.00868396
6.51%$0.179639
8.35%$0.098008
12.02%$1.79
6.27%$0.087425
10.29%$0.04554571
6.27%$0.00000044
2.90%$1.58
-0.70%$103,847.00
2.00%$2,308.32
12.69%$0.00601631
-0.56%$0.252805
4.34%$1.096
0.89%$1.001
-0.23%$0.617441
9.57%$44.65
6.01%$0.153402
-1.35%$1.49
1.76%$0.000001
-2.24%$0.341781
10.33%$0.398895
2.68%$2,298.97
13.14%$0.03739095
3.83%$0.01904862
3.21%$0.808796
9.61%$32.99
0.80%$0.00429909
2.62%$0.00006607
6.37%$1.002
0.16%$21.63
0.32%$0.176882
0.11%$0.36415
-2.84%$0.841406
3.74%$0.346129
5.99%$2,305.78
12.71%$0.00340046
11.36%$2,445.95
12.48%$128.43
7.09%$0.735502
2.55%$1.36
-2.67%$1.00
-0.02%$102,837.00
1.82%$2.91
10.35%$0.998039
-0.28%$23.04
8.05%$0.00000158
4.38%$0.260243
10.33%$1.00
0.01%$1.15
15.80%$1.00
-0.03%$24.76
12.63%$2,538.41
12.86%$0.00350439
13.79%$0.224973
7.36%$0.529342
-8.82%$0.306244
49.68%$2,516.26
12.81%$3.71
13.03%$1.099
0.12%$0.03494131
2.82%$24.00
5.70%$24.78
12.78%$2,311.15
12.77%$0.999739
-0.05%$2,488.55
12.68%$0.57426
4.83%$0.285609
5.96%$17.35
7.85%$3,342.82
0.22%$0.04026603
8.26%$3.38
-0.53%$2,318.56
13.49%$0.01395492
7.13%$0.116313
13.02%$0.794844
13.04%$0.00361129
3.79%$0.00261588
10.12%Reading
Elon Musk’s withering love affair with Bitcoin could be finally heading to its logical end after the Tesla CEO—again—took to Twitter to leave a brief message featuring the BTC hashtag paired with a broken heart emoji.
According to Emojipedia, a reference site for emojis, the broken heart emoji “represents the aching one feels when they are missing the person they love.”
However, the accompanying picture in Musk’s tweet, which includes reference to Linkin Park’s song “In The End,” hints at him possibly breaking up with Bitcoin for good.
#Bitcoin 💔 pic.twitter.com/lNnEfMdtJf
— Elon Musk (@elonmusk) June 4, 2021
The price of the largest cryptocurrency reacted immediately.
After flirting with $40,000 levels on Thursday, Bitcoin plummeted to the lows of $36,317 early on Friday morning. According to data from CoinGecko, over the past 24 hours, the benchmark cryptocurrency shed 7% in value.
Bitcoin last traded above $40,000 on May 27, before falling below $34,000 shortly after. Since then, the cryptocurrency was on the rise, only to crash again following Musk’s latest tweet.
The rest of the market has been a sea of red in the past few hours, with Ethereum, the second-largest cryptocurrency by market cap, falling by 8.8% to $2,616.
Among the largest cryptocurrencies, it’s Dogecoin that suffered the heaviest losses, crashing by more than 15.6% to $0.362.
The Elon Musk effect
Earlier this year, the price of Bitcoin was boosted by the news of Tesla’s $1.5 billion investment in the cryptocurrency, but—to a certain extent—it was Musk’s tweets that helped it set a new all-time high above $64,000 in April.
The billionaire made a sudden U-turn on Bitcoin in May, criticizing the detrimental environmental impact of cryptocurrency mining. He then announced that Tesla would stop accepting BTC as payment for its electric cars.
Musk continued advocating for Dogecoin, pushing the idea of using the cryptocurrency for payments. At the same time, his rocket company SpaceX announced a Moon mission next year, with the payload paid for entirely in the “meme coin.”
Bitcoin is coming to the drive-thru. American fast food chain Steak ‘n Shake said Thursday it will begin accepting the world’s largest crypto at all of its U.S. locations starting May 16, giving its more than 100 million customers the option to pay for milkshakes and burgers in BTC. “The movement is just beginning,” the company posted on X. Unlike high-margin retailers, fast food chains run on thin margins and high volume, making Steak ‘n Shake’s Bitcoin rollout a real-world stress test for the...
On Thursday, Bitcoin miner MARA Holdings reported a staggering $533 million net loss for the first quarter this year, despite amassing Bitcoin at a record pace and steadily growing its year-over-year revenue. The company's Q1 earnings reported a 30% jump in revenue to $214 million, with its Bitcoin holdings ballooning to 47,531 BTC, a 174% increase from just 17,320 BTC a year ago. Still, the company's results missed Wall Street’s expectations. Its net income loss expanded to $533 million (at $1....
Coinbase's total revenues fell 10% quarter-over-quarter and fell short of analyst expectations amid a decline in trading activity, the company said in its first quarter earnings for 2025. The crypto exchange booked $2 billion in total revenue on Thursday, below Wall Street analysts' estimates of $2.12 billion. Net income came in at $66 million, marking a 94% decrease from the fourth quarter of 2024. The company’s earnings per share shrank to $0.26 from $4.84 the previous year for the same thre...