Bitcoin Price Drops After Elon Musk’s One-word Tweet

A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

The price of Bitcoin traded below $45,000 on Sunday after a tweet by Tesla CEO Elon Musk, an outspoken supporter of cryptocurrency, suggested Tesla may be considering or may have sold off its bitcoin holdings.

Musk’s tweet was in response to an unverified Twitter account called @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…”.

Musk replied “indeed” without specifying whether Tesla had sold off its bitcoin holdings or that he simply agreed with the sentiment that he faced criticism.

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SOURCE: Reuters

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