Bitcoin Tumbles After Musk Implies Tesla May Sell Cryptocurrency

Bloomberg2021-05-17

(Bloomberg) -- Elon Musk continued to whipsaw the price of Bitcoin, briefly sending it to the lowest since February after implying in a Twitter exchange Sunday that Tesla Inc. may sell or has sold its...

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Comments

meowx3
2021-05-17
meowx3
Pump lump dump
Chifield
2021-05-17
Chifield
Pump and dump?
- Pixiestars:
  Yes of course. People dislike him now.
CHENGHOE
2021-05-17
CHENGHOE
My view is wait for a while it will still dip further and but will end soon and so time to buy in. Bitcoin is a valuable asset to own and it will grow in long term. Hodl you will gain more than lose.
- Estada:
  agree
dogeking
2021-05-17
dogeking
Sell Bitcoin. Buy doge. To the moon! ?
erwinwongso
2021-05-17
erwinwongso
Pls like and comment
- erwinwongsoReplyerwinwongso:
  ??
- erwinwongso:
  Help
- erwinwongsoReplyJessieka:
  Test
- Jessieka:
  Y
- Jessieka:
  ?
Albaakbert
2021-05-17
Albaakbert
Read he is bit con. Doge need to bit e

Leave a comment

123

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It traded at $45,270 as of 5:51 p.m. in New York, down about $4,000 from where it ended Friday.\nThe online commentary was the latest from the mercurial billionaire in a week of public statements that have roiled digital tokens. He lopped nearly $10,000 off the price of Bitcoin in hours last Wednesday after saying Tesla wouldn’t take it for cars. A few days earlier, he hosted “Saturday Night Live” and joked that Dogecoin, a token he had previously promoted, was a “hustle,” denting its price. Days later he tweeted he was working with Doge developers to improve its transaction efficiency.\nMusk’s disclosure in early February that Tesla used $1.5 billion of its nearly $20 billion in corporate cash to buy Bitcoin sent the token’s price to record and lent legitimacy to electronic currencies, which have become more of a mainstream asset in recent years despite some skepticism.\nHis latest dustup with Bitcoin started with a tweet from a person using the handle @CryptoWhale, which said, “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him...”\nThe Tesla chief executive officer responded, “Indeed.”\nThe twitter account @CryptoWhale, which calls itself a “crypto analyst” in its bio, also publishes a Medium blog on market and crypto trends.\nMusk has spent hours Sunday hitting back at several different users on Twitter who criticized his change of stance on Bitcoin last week, a move he said was sparked by environmental concerns over the power demands to process Bitcoin transactions. He said at the time that the company wouldn’t be selling any Bitcoin it holds.\nAn outspoken supporter of cryptocurrencies with cult-like following on social media, Musk holds immense sway with his market-moving tweets. 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For die hards, the renewed slumps in Bitcoin and other tokens have done nothing to deter crypto enthusiasts who say digital coins could many times their current value if they transform the financial system.\n“We’re looking at the long-term and so these blips, they don’t faze us,” Emilie Choi, president and chief operating officer of crypto exchange Coinbase Global Inc., said last week on Bloomberg TV about the wild swings prevalent in the market. “You’re looking for the long-term opportunity and you kind of buckle up and go for it.”\nSeat belts were needed by anyone watching the crypto world in the past eight days. Aside from Musk’s antics that sent Doge and Bitcoin on wild rides, a host of other developments pushed around prices.\nTether, the world’s largest stablecoin, disclosed a reserves breakdown that showed a large portion in unspecified commercial paper. Steve Cohen’s Point72 Asset Management announced that it would begin trading cryptocurrencies. And a longstanding critique of the space reared its head again: illicit usage.\nIt was reported that the owners of the Colonial Pipeline paid a $5 million ransom in untraceable digital currencies to hackers that attacked its infrastructure, while Bloomberg also reported that Binance Holdings Ltd., the world’s biggest cryptocurrency exchange, was under investigation by the Justice Department and Internal Revenue Service in relation to possible money-laundering and tax offenses.\nBut, “for many crypto assets such as Bitcoin and Ethereum, the long-term story has not changed,” said Simon Peters, an analyst at multi-asset investment platform eToro. “This emerging asset class continues to revolutionize many aspects of financial services, and while nothing goes up in a straight line, the long-term fundamentals for crypto assets remain as solid as ever.”\nBitcoin was already swinging wildly on the weekend before Musk tweeted. 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People dislike him now.","text":"Yes of course. People dislike him now.","html":"Yes of course. People dislike him now."}],"langContent":"EN"},{"id":192563661,"gmtCreate":1621216607553,"gmtModify":1704354056354,"author":{"id":"3581561214996277","authorId":"3581561214996277","name":"CHENGHOE","avatar":"https://static.tigerbbs.com/96f6b5364f0ba041d6ae45f7d4302867","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581561214996277","authorIdStr":"3581561214996277"},"htmlText":"My view is wait for a while&nbsp;it will still dip further and but will&nbsp;end&nbsp;soon and so time to buy in. Bitcoin is a valuable asset to own and it will grow in long term. Hodl you will gain more than lose.","listText":"My view is wait for a while&nbsp;it will still dip further and but will&nbsp;end&nbsp;soon and so time to buy in. Bitcoin is a valuable asset to own and it will grow in long term. Hodl you will gain more than lose.","text":"My view is wait for a while it will still dip further and but will end soon and so time to buy in. Bitcoin is a valuable asset to own and it will grow in long term. Hodl you will gain more than lose.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/192563661","repostId":1134346216,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4350684,"gmtCreate":1621217241325,"gmtModify":1680789200450,"authorId":3569638094156050,"author":{"id":3569638094156050,"idStr":"3569638094156050","authorId":3569638094156050,"name":"Estada","avatar":"https://static.tigerbbs.com/035b646e17ea259fd1e75b59654ef1ff","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":192563661,"type":1,"supId":0,"prevId":0,"content":"agree","text":"agree","html":"agree"}],"langContent":"EN"},{"id":192516064,"gmtCreate":1621215662958,"gmtModify":1704354031786,"author":{"id":"3582019561380962","authorId":"3582019561380962","name":"dogeking","avatar":"https://static.tigerbbs.com/3b3bb5a9aae2ee1579b02dfd0a867ec0","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":4,"crmLevelSwitch":0,"idStr":"3582019561380962","authorIdStr":"3582019561380962"},"htmlText":"Sell Bitcoin. Buy doge. To the moon! ?","listText":"Sell Bitcoin. Buy doge. To the moon! ?","text":"Sell Bitcoin. Buy doge. To the moon! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/192516064","repostId":1134346216,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":192519942,"gmtCreate":1621215434186,"gmtModify":1704354026038,"author":{"id":"3569805245982536","authorId":"3569805245982536","name":"erwinwongso","avatar":"https://static.tigerbbs.com/a54c0ba6f48d59c73e0cbaaf30d7913a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3569805245982536","authorIdStr":"3569805245982536"},"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/192519942","repostId":1134346216,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4378640,"gmtCreate":1621422932721,"gmtModify":1680789702819,"authorId":3569805245982536,"author":{"id":3569805245982536,"idStr":"3569805245982536","authorId":3569805245982536,"name":"erwinwongso","avatar":"https://static.tigerbbs.com/a54c0ba6f48d59c73e0cbaaf30d7913a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3569805245982536,"repliedAuthor":{"id":3569805245982536,"idStr":"3569805245982536","authorId":3569805245982536,"name":"erwinwongso","avatar":"https://static.tigerbbs.com/a54c0ba6f48d59c73e0cbaaf30d7913a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":192519942,"type":1,"supId":4356693,"prevId":4369230,"content":"??","text":"??","html":"??"},{"id":4369230,"gmtCreate":1621352555691,"gmtModify":1680789528702,"authorId":3569805245982536,"author":{"id":3569805245982536,"idStr":"3569805245982536","authorId":3569805245982536,"name":"erwinwongso","avatar":"https://static.tigerbbs.com/a54c0ba6f48d59c73e0cbaaf30d7913a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":192519942,"type":1,"supId":4356693,"prevId":0,"content":"Help","text":"Help","html":"Help"},{"id":4369229,"gmtCreate":1621352548942,"gmtModify":1680789527251,"authorId":3569805245982536,"author":{"id":3569805245982536,"idStr":"3569805245982536","authorId":3569805245982536,"name":"erwinwongso","avatar":"https://static.tigerbbs.com/a54c0ba6f48d59c73e0cbaaf30d7913a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3559381618794664,"repliedAuthor":{"id":3559381618794664,"idStr":"3559381618794664","authorId":3559381618794664,"name":"Jessieka","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":192519942,"type":1,"supId":4350234,"prevId":4357696,"content":"Test","text":"Test","html":"Test"},{"id":4357696,"gmtCreate":1621271763776,"gmtModify":1680789320829,"authorId":3559381618794664,"author":{"id":3559381618794664,"idStr":"3559381618794664","authorId":3559381618794664,"name":"Jessieka","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":192519942,"type":1,"supId":4350234,"prevId":0,"content":"Y","text":"Y","html":"Y"},{"id":4356693,"gmtCreate":1621262324254,"gmtModify":1680789302695,"authorId":3559381618794664,"author":{"id":3559381618794664,"idStr":"3559381618794664","authorId":3559381618794664,"name":"Jessieka","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":192519942,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"},{"id":192532883,"gmtCreate":1621215242542,"gmtModify":1704354021134,"author":{"id":"3573197870935019","authorId":"3573197870935019","name":"Albaakbert","avatar":"https://static.tigerbbs.com/38fb1a202f211aaf65a6b491072b884f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3573197870935019","authorIdStr":"3573197870935019"},"htmlText":"Read he is bit con. Doge need to bit e","listText":"Read he is bit con. Doge need to bit e","text":"Read he is bit con. Doge need to bit e","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/192532883","repostId":1134346216,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":123,"commentSize":81,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1134346216"}