Bitcoin Took a 3.7% Dive Today After Musk's Indecision
Bitcoin took an 3.7% dip to near $45,100 Sunday afternoon EST after Tesla CEO Elon Musk didn't outright deny that their electric-car company has sold or could quickly offer most of its bitcoin (BTC, -5.93%) holdings because of the critique Musk has received after suspending the world’s cryptocurrency that is largest as a kind of payment.
"Indeed," Musk tweeted at 2:48 p.m. EST in an answer to a tweet by Twitter handle @CryptoWhale, which stated that "Bitcoiners are going to slap on their own quarter that is next they find out Tesla dumped the rest of these #Bitcoin holdings."
Bitcoin's price dropped right after the tweet, to near $45,100 and eventually sank to as little as $44,459.02 before recovering.
In recent trading, bitcoin had bounced back once again a bit to $45,627.90, down 4.98% within the past 24 hours, in accordance with CoinDesk 20. Earlier the day, Musk also tweeted at Peter McCormack, who posted a Twitter thread about Musk's criticism of bitcoin and support for dogecoin (DOGE, -5.81per cent), saying that "obnoxious threads such as this make me want to go all in on Doge."
Musk on May 12 announced that Tesla is bitcoin that is discontinuing as a result of issues around its ecological impact, which sent bitcoin down by $2,000.
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