Elon turned the crypto market upside down once again.

Elon has turned the crypto market upside down once again. But how?

Are you aware of the cryptocurrency market? Then you might know how Elon Musk, the CEO of Tesla, has an influence on Bitcoin. A few months ago, he made a tweet stating that Tesla accepts Bitcoin for car purchases. This tweet also impacted on the price of bitcoin’s all-time high of $65,000. While things were going smoothly, Elon documented a tweet mentioning that Tesla had suspended vehicle purchases using Bitcoin. The main reason he showcased was the environmental impact caused by bitcoin mining. After a very short period after this tweet, the bitcoin price dropped about 50% of its unit value. However, Elon turned the crypto market upside down in a very short instant. According to some experts, it was a hidden game by Elon Musk against Bitcoin. But, currently, Elon has turned the crypto market upside down once again. But how? The text below contains the essentials.

Elon Musk says he owns many cryptocurrencies!

In this kind of a situation, Elon has made a statement mentioning he owns Bitcoins, Ether and Dogecoins. Also, he said that he also wants Bitcoin to be successful again, along with the above statement. However, this statement was quoted in an event called “The B Word.” After the huge market crash which was influenced by Elon’s previous statement, the recent statement has impacted on Bitcoin again. The Bitcoin price rose to over $32,000, giving a bit of comfort to bitcoin holders. Furthermore, his statement mentions that he has a large market holding of cryptocurrency apart from SpaceX and Tesla. He continued, saying that Tesla would most certainly resume taking bitcoin payments after conducting research into how much renewable energy is utilized to mine it.

Along with the above statement, he clearly mentioned that he was not selling any cryptocurrency. But if the prices of cryptocurrency fluctuate due to the market crash, he would lose his money similar as other cryptocurrency holders. That is the reason why he wants bitcoin to succeed once again. However, the game of Elon around cryptocurrency is somewhat mysterious. But there is no doubt that he is one of the great influences on Cryptocurrency who can turn the crypto market upside down.

  • The above discussion is neither financial advice nor financial recommendation. It is a basic study on cryptocurrency which is done based on resource sources. Therefore, our team accepts no responsibility or liability for any predictions/decisions you make in the industry.

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