Elon Moves the Crypto Markets... Again (BTC-USD)

May 13, 2021

Elon Moves the Crypto Markets... Again (BTC-USD)

Yesterday, Bitcoin (BTC-USD) Mentions surged to the second-highest level seen in 2021, after a statement from Tesla (TSLA) CEO Elon Musk prompted -10% sell-off in the largest cryptocurrency. Elon announced that TSLA would renege on its prior decision to accept Bitcoin as payment due to environmental concerns. This caused a sell-off in the crypto markets at large, with $300B in market cap evaporating in a matter of hours. Less than a week ago, Musk caused a -30% correction in the price of Dogecoin (DOGE-USD) when he joked about it during his guest appearance on ‘SNL'.

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