Bitcoin (BTC) Price Is 'Too Low': Twitter Reacts to Elon Musk's Jaw-Dropping Tweet

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Fri, 05/01/2020 - 16:53
Alex Dovbnya
Tesla CEO Elon Musk tanks his company’s stock by claiming that it’s too high while invigorating another debate around the price of Bitcoin (BTC)
Cover image via www.facebook.com
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Tesla CEO Elon Musk has stepped up his Twitter game by tweeting that the company’s stock was “too high.”

Investors were quick to react to the unorthodox statement by pushing Tesla’s shares down 12 percent in the span of one hour.

In response to Musk, whoever behind Bitcoin’s Twitter handle tweeted that BTC price was, in fact, too low.  

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Musk agrees 

As reported by U.Today, the market cap of the leading electric car manufacturer once again surpassed that of Bitcoin back in April.

Bitcoin analyst Tuur Demeester claimed that Tesla’s valuation was “over the top” when compared to BTC. Now, he gladly tweets that everyone appears to be on the same page. 

The confession of the famed entrepreneur also inspired Binance CEO Changpend Zhao to post a poll about the Bitcoin price. 

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Another tweetstorm

The bearish tweet, which played into the hands of Tesla short-sellers, was only part of his most latest Twitter storm.

The charismatic billionaire announced that he would sell all of his physical possessions while reciting the U.S. national anthem to make a case for giving people their freedom back.  

As reported by U.Today, Musk is one of the most vocal proponents of ending lockdowns that he likened to “fascism” during his recent earnings call.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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