The tech tycoon is back trolling Bitcoin. Elon Musk tweeted of a breakup with Bitcoin, and his broken heart tweet sent BTC down nearly 7%, effectively halting this week’s market rebound.
And talk about timing, as the price could be pushed down further during the weekend.
The famous entrepreneur put out a cryptic tweet on Friday during the Asian hours that hinted at a breakup with the largest cryptocurrency. His tweet of a broken heart with the Bitcoin logo and a picture of a couple in the midst of a breakup was enough to do the deed.
— Elon Musk (@elonmusk) June 4, 2021
The crypto community took it as a sign of the billionaire distancing himself from Bitcoin, leading to prices losses.
His business decisions and social media comments have boosted cryptocurrency markets in the past, as was the case of Tesla investing $1.5 billion in BTC and his Dogecoin shilling.
This is Musk simply reasserting his role as a market influencer, and targeting the cryptocurrency that has been in his crosshairs lately.
In early May Musk said that his company Tesla was suspending BTC payments for its vehicles, citing environmental concerns due to rapidly increasing use of fossil fuel for mining. The crypto economy lost billions of dollars following the announcement.
This latest antic took Bitcoin to the lows of under $36,500, reversing the Thursday rally that saw the world’s most popular cryptocurrency climb back up to $39,200.
Other digital coins including Ether, Cardano, Polkadot, and Dogecoin followed it in red.
Just another Friday!
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Crypteligence.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.