Tesla CEO Elon Musk crashed the cryptocurrency market with one tweet on Thursday. Tesla itself did not stand aside, which in recent days has collapsed by 15%.
Bitcoin lost more than 9% on Thursday to close below $ 50,000. This is the highest drop in nearly three months. Tesla has temporarily stopped selling its products for bitcoins due to the non-environmentally friendly method of mining.
The head of the automaker Elon Musk said on Twitter that Tesla cannot afford to harm the environment, so it will not accept cryptocurrency as payment until it starts mining using renewable energy sources, writes RBC.
“Tesla is considering other cryptocurrencies that use less than 1% of bitcoin’s energy in mining per transaction,” the company said.
The automaker added bitcoin payment for its products on March 24. The company has only made the feature available to US customers and has promised to introduce it in other countries later this year. Musk stressed that the company would not sell the resulting cryptocurrency.
Meanwhile, the value of Tesla shares themselves plummeted by 15 percent over the past four trading days. The price closed below the 200-day moving average (200-DMA) on Thursday for the first time since March 2020. Elon Musk’s company has not experienced such shocks since the spring of last year, when the coronavirus pandemic swept the world.
Yesterday, not only the words of Elon Musk served as a negative factor for the decline in bitcoin quotes, experts say. This was also facilitated by the public refusal of the creator of Ethereum Vitalik Buterin from the “assets imposed on him.”
Buterin donated 50 trillion Shiba Inu tokens and 500 Ethereum to fight Covid-19 in India. The creator of the largest altcoin by capitalization transferred digital coins to the India COVID-Crypto Relief fund. The transfer amount was $ 1 billion.
- What is cryptocurrency? Everything a beginner needs to know about coins in one book. Read for free
Market forecasts, analytics and stock news