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”