THE price of Bitcoin has dropped once again today, after Tesla and SpaceX boss Elon Musk’s cryptic “breakup” tweets.
Musk shared a meme on Twitter featuring a breakup on Thursday evening, showing an unhappy looking couple.
The woman could be seen saying “I know I said it would be over between us if you quoted another Linkin Park song but I’ve found someone else”.
The man responds, “So in the end it didn’t even matter?”.
Musk posted the image with the cryptic caption #Bitcoin, alongside a breaking-heart emoji.
Two hours later, Musk only added to the confusion by posting an image of a couple in a long-distance relationship.
The pair can be seen communicating by video call while both are lying in bed.
The woman can be seen saying “I miss you”.
In the next image, in which the man appears to be tearing up, she asks, “Why are you crying?”
The man responds by saying “Cuz I miss you too”.
According to CNET reports, Bitcoin fell more than 4.5%, to around $36,823 as of 9 a.m. PT on Friday.
“Ethereum, Dogecoin and other cryptocurrencies were also down,” the reports read.
The value of Bitcoin plummeted even further towards the end of Friday, to $37,772.
By Saturday morning, it had dropped to $35,809.
The Wall Street Journal added, “Ether dropped 4.2% from its 5 p.m. Thursday level to $2,702.23. Dogecoin, another favorite of Mr. Musk’s, declined 4.7% to about 38 cents”.
Comments on the posts saw users bidding Musk to “stop manipulating”.
According to Fox Business, Musk was slammed at the Bitcoin 2021 conference following his tweets.
Max Keiser, host of the ‘Keiser Report, reportedly kickstarted his fireside chat by repeating, “F*** Elon!” several times.
Michael Saylor, the co-founder of business intelligence company MicroStrategy as well as a staunch Bitcoin defender, rejected Musk’s earlier concern about the environmental impact of Bitcoin.
“Bitcoin is the most efficient use of energy that the human race has yet come up with,” he said.
“I think that Bitcoin is an extraordinarily disruptive, beneficial technology to the entire energy industry, and as I studied it, it became clear to me that it’s the highest-value use of intermittent energy.”
“It’s the highest-value use of renewable energy. It’s the highest-value use of wasted or stranded energy. And it’s just the highest-value use of energy period.”
Musk rocked the world of cryptocurrency last month by announcing Tesla will no longer accept Bitcoin payments because of environmental impacts.
Immediately after making the announcement, both Tesla's and Bitcoin's share prices dropped considerably.
"Tesla has suspended vehicle purchases using bitcoin," Musk tweeted. "We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel."
"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” he continued.
"Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy."
"We are also looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction."
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