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Elon Musk Says Tesla Has Diamond Hands, Pushing Bitcoin Sharply Higher

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Wed, 05/19/2021 - 14:54
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Alex Dovbnya
Elon Musk has taken to Twitter to quell the turbulent cryptocurrency market
Elon Musk Says Tesla Has Diamond Hands, Pushing Bitcoin Sharply Higher
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Tesla CEO Elon Musk has taken to Twitter—again—to assuage the concerns of those who thought that Tesla was readying to get out of Bitcoin. 

The mercurial billionaire tweeted via emojis that the e-car manufacturer has "diamond hands."

Elon Musk
Image by @elonmusk

The top cryptocurrency instantly rallied over six percent on the Musk tweet.

Trading View
Image by tradingview.com

Earlier today, Bitcoin plunged as low as $30,078 on the Bitstamp exchange.

Musk's recent tiff with the community is considered one of the main reasons for the brutal rout.

As reported by U.Today, Musk berated the cryptocurrency for its massive energy consumption and alleged centralization last week after Telsa suspended Bitcoin payments.

The centibillionaire also implied that Tesla could part ways with its massive Bitcoin stash but later denied that the e-car maker had sold any additional coins.

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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.