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CEO’s ‘Tesla has not sold any bitcoin’ tweet that is bouncing bitcoin back



Tesla CEO Elon Musk has taken to Twitter to clarify that Tesla has not sold any Bitcoin…

The cryptocurrency fell to $45,000 on Sunday after Elon Musk suggested Tesla may consider selling off its bitcoin holdings.

This comes just days after the company sent the cryptocurrency into a steep decline over concerns around the environmental impacts of bitcoin mining.

The value of Bitcoin has plummeted in the past week.. directly tied to tweets posted by Elon Musk

In the past day he implied Tesla sold or may sell the rest of its bitcoin holdings.. now he has tweeted that Tesla has not sold any Bitcoin.

Is Musk being irresponsible, knowing how much power and influence he has.. or does it say more about the speculative nature of cryptos?

Jeffrey Halley, a senior market analyst for Asia Pacific with OANDA says “there is a problem with the world” when bitcoin moves around by 10-15 per cent following a stint on Saturday Night Live.

“What a speculated market it has become”

Halley says it’s problematic that not just bitcoin, but Dogecoin and other digital coins are moving around on the tweets of famous people, instead of economic fundamentals.

“There is a gamification of online trading”


Gucci goes big in metaverse with new Vault Art Space



Forward thinkers who love fashion, this exhibit is for you

Luxury brand Gucci has opened a Vault Art Space as it continues to explore the art world and the metaverse

Gucci inaugurated the gallery in a partnership with NFT marketplace SuperRare

The debut exhibit is titled “The Next 100 Years of Gucci”

Spring Cry by Alanna Vanacore

Keep your eye out for a special selection of NFT artworks, each a collectible fragment of Gucci’s heritage.

The artworks are showcased and auctioned off directly on Vault’s website in three drops between now and the end of July.

All sales will be in Ethereum.

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Ethereum to finally undergo shift to new energy model



Ethereum is about to undergo its long awaited makeover, which will see the company shift from its energy intensive model.

The crypto has been working to shift from its proof-of-work method to a proof-of-stake model, which requires far less power than mining.

Crypto currencies have been criticised for their mining processes to generate new coins. But this new method will be eco-friendly and lead to faster transactions.

The transition has been repeatedly pushed back because of major flaws.

But developers reportedly say the latest test run was very smooth.

The price of Ethereum has lost nearly half its value this year and is trading at just over $1,800 USD.

Investors will continue to keep an eye out on what will come out of this upgrade.

Meanwhile, Bitcoin investors can enjoy a sigh of relief as the cryptocurrency bounces back after months of turbulence.

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Luxury watchmaker accepts bitcoin for limited edition collection



They say cash is king and some call crypto a waste of time, but one company is proving to customers, that its not an old-timer

Luxury watchmaker Hublot is accepting bitcoin as payment for a limited-edition watch collection.

While the release begins with this limited-edition collection, the addition of bitcoin to the platform will not be going away for the United States eBoutique

Hublot partnered with BitPay to accept bitcoin and will continue to accept bitcoin through this outlet.

In order to secure one of the watches from this collection, customers will be paying just over 21 thousand or slightly more than the current price of 1 bitcoin.

The Swiss-based company joins other high end brands like Gucci and Balenciaga in accepting bitcoin as legitimate payment.

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