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.
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