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Bitcoin Spikes 6 Percent in Minutes as Elon Musk Confirms That Tesla Still Holds It

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Mon, 05/17/2021 - 06:12
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Alex Dovbnya
Tesla CEO Elon Musk has brought more clarity to the table about Tesla's Bitcoin holdings
Bitcoin Spikes 6 Percent in Minutes as Elon Musk Confirms That Tesla Still Holds It
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In his latest tweet, Tesla CEO Elon Musk has confirmed that the e-car manufacturer hasn't sold any Bitcoin as of today.  

As reported by U.Today, Musk posted an ambiguous one-word reply on Sunday that many believed could indicate that Tesla had cashed out its holdings (or intended to do so). 

The billionaire has soured on Bitcoin after a bitter spat with the community, recently criticizing it as centralized and predicting that meme cryptocurrency Dogecoin could win against it.

Related
Elon Musk Wants to Go "All In" on Dogecoin Because of "Obnoxious" Bitcoin Threads

Tesla stopped accepting Bitcoin for vehicle purchases last week but claimed that it would keep the top cryptocurrency on its balance sheet.            

Bitcoin has instantly trimmed some of its recent losses, spiking over 6 percent in mere minutes on Musk's tweet. The flagship coin is currently trading above $45,000.

BTC
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Earlier today, the cryptocurrency plunged to its lowest level since Feb. 8.             

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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.