Just waking up? Bitcoin update - BTC trashed on Musk Tesla payment comments
Elon Musk has shunned payments in BTC for his electric vehicles:
The basis of Musk's expressed concern over BTC is its mining and transaction environmental cost (electricity usage, power most often generated by the use of fossil fuels). Musk said he'd support less energy-intensive coins instead.
The crypto complex as a whole has taken a hit, darlings ETH and DOGE were hit as well.
BTC hits lows circa $46K but has since bounced $4k or so:
The story as it unfolded, read from the bottom up for chronology:
- Bitcoin bounce, back above $50K. Other coins on the bounce also, DOGE back over 42c
- Bitcoin crumbles after Elon Musk bails. Why it may never recover
- Cryptocurrency exchanges under immense strain with BTC meltdown - Reports that Coinbase is down
- Bitcoin rout extends lower. BTC/USD now under $50k
- Bitcoin is continuing its slide after the Musk Tesla bombshell
- DOGE volatility prompted by Musk's abandoning Bitcoin for Tesla payments
- Musk says Tesla has suspended taking Bitcoin for vehicle purchases