Claim CardElon Musk Confirms “Tesla Has not Sold Any Bitcoin”
After a lot of speculation and FUD about Tesla selling Bitcoin anytime soon, Elon Musk has momentarily cleared the air stating “Tesla has not sold any Bitcoin”.
To clarify speculation, Tesla has not sold any Bitcoin
— Elon Musk, the 2nd (@elonmusk) May 17, 2021
Elon Musk’s late Sunday tweet rattled Bitcoin (BTC) along with the overall crypto market losing over 10% in a flash crash. Musk’s latest tweet has once again helped limit the Bitcoin losses. After Musk’s confirmation, the BTC price surged by $2000 from under $43,000 to now coming closer at $45,000.
In one minute, the price of Bitcoin rose by 4.5%. 11 hours ago, Musk's six-letter "indeed" caused Bitcoin to fall by 10%. https://t.co/Pdm1krlhMZ
— Wu Blockchain (@WuBlockchain) May 17, 2021
Clearly, Elon Musk’s influence over Bitcoin and the overall crypto space seems to be very high. Bitcoin critic Peter Schiff questioned Bitcoin’s status as a “safe-haven asset” or a “store of value” if just one tweet can rattle investors. Note that Elon Musk has confirmed that Tesla hasn’t sold its Bitcoin yet. It doesn’t mean it won’t be selling anytime in the near future.
Buying the Dips Amid Higher Market Fear
Coming in Support of Bitcoin some of the crypto market veterans and investors like Anthony Pompliano said that they are buying these dips amid all the FUD.
I bought the dip.
Love the FUD.
Thank you.
— Pomp 🌪 (@APompliano) May 16, 2021
Binance CEO Changpeng Zhao also wrote:
“Bitcoin/crypto have not changed. They don’t care. There are always fluctuations in the market, for all kind of reasons. You can blame others for what they tweet (their freedom). Or you can take advantage of the opportunities. Not financial advice”.
Besides, the current Bitcoin fear and greed index has dropped to 27 suggest a major fear in the market. Market analysts Wu Blockchain notes that this is, however, much better than the fear over the last few weeks. He writes:
“The current BTC Fear/Greed Index is 27, which is in a state of fear, but it is a increase from yesterday’s index of 20. The BTC Fear/Greed Index on March 13 last year was only 10, and it remained below 20 for nearly two weeks.”
At press time, Bitcoin (BTC) is trading at $44,986 with a market cap of $841 billion.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Peter Schiff Casts Doubt on Bitcoin Rally Ahead of Trump’s SOTU Speech
- Putin Signs Law to Confiscate Bitcoin Amid Russia’s Crypto Crackdown, Pavel Durov Probe
- Michael Saylor’s Strategy Moves $83M in Bitcoin as $9B Paper Losses Raises Pressure
- Stripe Eyes PayPal Acquisition Amid Stablecoin Expansion
- Expert Predicts Deeper Bitcoin Decline as JPMorgan CEO Warns of Similarities to the 2008 Financial Crisis
- Cardano Price Signals Rebound as Whales Accumulate 819M ADA
- Sui Price Eyes Recovery as Third Spot SUI ETF Debuts on Nasdaq
- Pi Network Price Eyes a 30% Jump as Migrations Jumps to 16M
- Will Ethereum Price Dip to $1,500 as Vitalik Buterin Continues Selling ETH?
- XRP Price Outlook as Clarity Act Passage Odds Plunge to 53%
- COIN Stock Risks Crashing to $100 as Odds of US Striking Iran Jump
