Main navigation

Elon Musk Pushes Bitcoin Down with Linkin Park Song, Jokes About Dogecoin and Federal Reserve

News
Fri, 06/04/2021 - 04:25
article image
Alex Dovbnya
In the end, it didn’t even matter
Elon Musk Pushes Bitcoin Down with Linkin Park Song, Jokes About Dogecoin and Federal Reserve
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Tesla CEO Elon Musk made Bitcoin plunge by over 3 percent earlier today by simply mentioning the lyrics of “In the End,” the chart-topping song of rock band Linkin Park. 

His meme depicts a woman who was willing to dump her boyfriend if he quoted the band one more time before she found someone else. In response, he says that it "didn't even matter" (in the end).  

Musk
Image by @elonmusk

It could have been just an innocuous tweet if it hadn’t been accompanied by the Bitcoin hashtag with the broken heart emoji, which signals that Musk might be parting ways with the cryptocurrency.       

The largest coin instantly moved sharply lower on the Musk tweet before reaching an intraday low of $37,400 in about an hour.

TV
Image by tradingview.com

Musk himself seems to be enjoying wreaking havoc with the market.

He threatened to dump Tesla’s Bitcoin holdings in mid-May but later backpedaled on the threat.

Related
Elon Musk's Online Reputation Plunges to New Low After Spat with Bitcoiners: Awario

Dogecoin is the new greenback 

Apart from taking aim at Bitcoin, Musk has once again boosted meme cryptocurrency Dogecoin by comparing it to the U.S. Federal Reserve.

While the joke coin faces criticism for having infinite supply, the billionaire appears to think that it’s no different from printing U.S. dollars.

Musk
Image by @elonmusk

As reported by U.Today, Dogecoin recently started trading on Coinbase Pro.

article image
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.