A number of Musk’s recent tweets have sparked in the crypto community a mix of ebullience, confusion, apprehension and, at times, dread.
His social-media missives have had outsize influence on the prices of dogecoin and bitcoin and he’s at least partly blamed for the extant slump in bitcoin and the broader crypto complex. An article last month in The Wall Street Journal described him as bitcoin’s biggest influencer.
At last check Thursday night, bitcoin pricesBTCUSD,-2.68%were down 2.3%, changing hands $37,762 according to CoinDesk data, slipping after the Tesla Inc.TSLA,-5.33%CEO’s most recent tweet.
The price of dogecoinDOGEUSD,-4.90%,for which Musk has been one of its biggest champions, was down 5.5%, changing hands at 38 cents.
Last month, Musk tweeted that Tesla would no longer accept bitcoin as payment for its vehicles, citing the large carbon footprint of digitally mining for bitcoin. The tweet is still reverberating in crypto circles, reigniting a debate about the sustainability of bitcoin mining.
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