Elon Musk’s Tweets About Bitcoin — How To Manipulate The Largest Crypto-Currency In The World

Markus
6 min readJun 10, 2021
PromesaStudio via depositphotos.com

There’s no doubt: When the Tesla CEO Elon Musk tweets about Bitcoin, he is moving the largest cryptocurrency in the world. In fact, in May 2021, Bitcoin’s market cap exceeded 1 Trillion Dollars!

https://coinmarketcap.com/largest-companies/

Even at the current valuation, it’s worth more than the electric car maker Tesla.

What does Elon Musk say about Bitcoin?

Back in March, when Elon Musk announced that Tesla (TSLA) was getting into the cryptocurrency market, it seemed like a match made in heaven:

The world’s most popular company with the crypto’s most popular token. What could go wrong?

Tesla initially bought $1.5 billion worth of Bitcoin to keep on its balance sheet, and Musk even revealed that the company would begin accepting Bitcoin as payment for its vehicles.

The future was truly here! Paying with a decentralized digital currency for an electric vehicle?

Sounds like something out of a science fiction movie!

But just several weeks later, Tesla’s relationship with Bitcoin came crashing down.

Bitcoin Tumbles After Elon Musk Tweets Broken Heart Emoji

On June 3rd, Musk ended weeks of speculation by tweeting a broken heart emoji alongside the Bitcoin hashtag.

https://twitter.com/elonmusk/status/1400620080090730501?s=20

While Musk did not explicitly say that Tesla had sold all of its Bitcoin, most people on Twitter took that as the official breakup.

Bitcoin’s price tumbled by over 5% in the hours following the tweet, sending the crypto community into chaos once again.

TradingView.com

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Markus

Markus is a self-made multi-millionaire who was born in Germany. He came to the US in 2002 with $30,000 in his pocket and a dream to become a successful trader.