Why Bitcoin Crashed After Elon Musk Tweets / In-depth Explanation.
After Elon Musk Tweets Earlier these Week and Founder Of Ethereum Seems to have Cause the Depreciation in the Value of Bitcoin Few hours after the Tweets.
the Aim was to invest some of his company assets in Bitcoin, this was met with tons of positive feedback.
Bitcoin Rise from 30k$ to 45k$, it was believe that Tesla made a 100mill$ from that Move alone.
It’ss been around 4months since that announcement was made in Feb and these week in May Elon musk said they’ve suspend accepting Bitcoin payment for Tesla.
ReasonsTesla Gave was that they were Concern about rapidly increasing use of Fossil Fuel To mine Bitcoin.
They state that they won’t be selling their Bitcoin and would rather looks for Alternative well as you would expects Bitcoin Tanked And Depreciate.
Tesla Appreciated well There you have it the Main Reasons Why Bitcoin Depreciate and Lost Value!.
Firstly let’s get into the details of Elon Musk tweets Elon musk the second richest man alive and the founder of Tesla.
He Firstly announce in Feb of 2021 that his company would purchase over 1.5 billion dollars of Bitcoin.
This was months after he had a discussion with Michael salylor one if the Bitcoin Billionaire.