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Bitcoin is getting sick and not dying, and Elon Musk wanted to buy from low prices


Tesla and Bitcoin shares plummeted after billionaires Elon Musk tweeted that he would stop payment systems for Tesla cars using Bitcoin due to excessive energy use in Bitcoin mining.

Elon Musk said that Bitcoin uses more electricity than Argentina and Norway combined, Elon Musk's tweet immediately plunged Bitcoin to levels below 45,000 before it embarked on a rapid ascent.

But the negative impact of Elon Musk's tweet did not last long, as cryptocurrency traders found an appropriate opportunity to buy back, taking advantage of the sharp drop, while some questioned the true intention of Elon Musk from that tweet, some confirmed that Elon Musk tweets in favor of his environmentally friendly currencies in which he invests, while still There was a complaint that Elon Musk wanted to buy back from low price levels, and it triggered a temporary panic that helped him buy back more cryptocurrencies within hours.

The most significant response came from Morgan Creek Digital founder Anthony Pomplano, who tweeted that 75% of Bitcoin mining is using renewable energy.

My original article on Arincen, click here

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