The relation of tesla motors and bitcoin has turned the cryptocurrency market upside down. Bitcoin and tesla are in a Tom and Jerry situation. The statement of the co-founder of tesla motors is alleged to manipulate the value of bitcoin.
Bitcoin arrived in the marketplace in the year 2009. However, it acquired the attention of Elon musk in 2020 as he talked about bitcoin in a clubhouse room. Subsequent to his few statements regarding bitcoin, tesla motors announced that they had invested a gigantic buck in bitcoin. Elon Musk even received a threatening video for manipulating the value of bitcoin from an anonymous group which he took as a joke.
The tweets of Elon musk have undeniably influenced the value of bitcoin to an exceeding extent. Elon Musk recently has announced that tesla is to accept bitcoin as a payment method sooner. Moreover, if you want to get profitable results, check out bitcoin evolution australia site for more details. Below mentioned is everything you should know about Elon musk’s latest tweet regarding bitcoin; let’s have a look.
Tesla Is Prepared
The co-founder of tesla motors and space x foundation has demonstrated that Tesla is now all set to accept bitcoin as a payment method again. The mining council recently released a statement that 50% of the mining plants have been established on a renewable source of energy as per the robust sources.
The Bitcoin mining council correspondingly educates novice miners regarding bitcoin mining, such as tactics to save energy in bitcoin mining and how to avail maximized results in bitcoin mining progression. The mining council avails results from open bitcoin mining pools and servers, which renders information in terms of bitcoin mining.
Elon Musk addressed that more than 50% of the bitcoin mining pool are complexed on greener energy, and the number of bitcoin mining pools complexing on the renewable source of energy is correspondingly inclining. At the end of a tweet, he stated that tesla would resume accepting bitcoins.
History of Elon Musk with Bitcoin
Elon musk joined Twitter recently, and he acquired an exceeding extent of follower base on Twitter in a nominal time. Elon musk has a great impact on his audience, and his tweet regarding bitcoin moved the value of bitcoin up to an extraordinary amount. As established, the Elon Musk and bitcoin corundum started in December of 2020.
Elon Musk tweeted a meme regarding bitcoin as a reply to the tweet of Elon musk; Michael Saylor, the co-founder of micro strategy, replied to Elon musk with a tweet. The tweet of the co-founder of micro strategist that it would really help if Elon musk will convert some of his balance sheet of tesla motors into bitcoin.
Elon Musk was astonished to acknowledge the fact that bitcoin is potential enough to carry out a transaction with no possible limitation as users can send any viable amount to recipients just hassle-free. Subsequent to these incidents, Elon musk actually converted some of the balance sheets of tesla motors in bitcoin.
Tesla- Second Leading Holder Of Bitcoin
The instance Elon musk invested a gigantic buck in bitcoin, tesla became the second leading holder of bitcoin as first was micro strategy led by Michael Saylor. Tesla motors invested $1.5 Billion in bitcoin, which is a magnificent amount.
After investing resources in bitcoin, Elon musk openly promoted bitcoin. In March 2021, Elon musk correspondingly stated that tesla motors would accept bitcoin as a payment method. However, the progression of accepting bitcoin as payment was suspended as tesla motors refused to do so.
In April 2020, Elon Musk replied to a tweet related to the scarcity of bitcoin. Elon Musk has stated that tesla motors have sold 10% of its bitcoin holdings just to sustain the liquidity of the bitcoin complex.
Did Elon Musk’s Tweet Move Bitcoin’s Price?
Elon musk has a magnificent impact on its audience, and the statement of renowned celebrities regarding bitcoin is one of the crucial factors moving the value of bitcoin. Undoubtedly Elon musk’s tweet impacted the value of bitcoin to an exceeding extent.
Most of the tweets had a positive impact on the value of bitcoin; however, the tweet of suspending bitcoin as a payment method just utterly shattered every possible individual and crypto enthusiast, which further led to the cryptocurrency market crash.
These are some of the latest updates of Elon musk and bitcoin.