One morning in January, when he added “bitcoin” to his Twitter feed, the price of bitcoin shot up nearly 20 percent. The month after Tesla Inc. revealed it had purchased $1.5 billion worth of cryptocurrencies, they rose 16 percent in a single day.
Then, earlier this month, he tweeted that Tesla would no longer accept bitcoin as a payment method for its vehicles. Investors blame the tweet for the worst drop of the year triggered by Bitcoin, a frenzy that has shrunk its market cap by hundreds of billions of dollars and wiped out gains since late January. After peaking at nearly $65,000 in mid-April, the price of bitcoin has now fallen about 50 percent, including about 40 percent since Musk’s tweet in May.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/musk-has-become-the-most-influential-person-on-bitcoin/
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