One Of Bitcoin’s Biggest Backers Just Spent $1 Billion Buying More

In this photo illustration a Bitcoin logo is seen displayed...

While bitcoin remains about 15% below its record high from Sunday, a couple of the cryptocurrency’s biggest corporate backers have doubled-down on their bitcoin investments during the recent correction despite concerns over the token’s unshakeable volatility.

Business analytics company MicroStrategy said Wednesday morning that it spent slightly more than $1 billion buying about 19,452 bitcoin tokens during the recent correction, averaging about $52,756 per bitcoin.

As of Wednesday, the firm, which used debt to finance its recent bitcoin acquisition, holds roughly 90,531 tokens that it purchased at a combined price of nearly $2.2 billion–less than half the $4.5 billion they’re worth at current prices.

In a statement, MicroStrategy CEO Michael Saylor said acquiring and holding bitcoin remains one of the company’s two biggest strategic priorities (in addition to growing its analytics software business) and that the investment “reaffirms [the firm’s] belief that bitcoin, as the world’s most widely adopted cryptocurrency, can serve as a dependable store of value.”

The move comes less than a day after payments fintech Square, cofounded and led by billionaire Jack Dorsey, revealed it’s also doubled-down on its bitcoin investment–investing another $170 million in the cryptocurrency this month after a $50 million investment in October.

At current prices, Square’s October investment is worth approximately $230 million–more than four times the purchase price; combined with the recent purchase, bitcoin represents about 10% of the cash Square had on hand at the end of last year.

MicroStrategy shares have plummeted 42% since a nearly 20-year high on February 9–the day after Tesla disclosed a $1.5 billion bitcoin investment; much of the plunge has been fueled by crashing bitcoin prices, which have similarly tanked Tesla shares.

Crucial Quote

“Bitcoin is a bank in cyberspace for people that don’t have the ability to run their own hedge fund,” Saylor said on CNBC Tuesday. “It’s not a stock; it’s an asset class, and so if I put $1 billion into a bank, and then came back and put another $10 billion in a bank, the bank is not overvalued, it’s just 10 times bigger.”

Surprising Fact

Bitcoin has plummeted about 16% from its record high of more than $58,000 on Sunday, but it’s still up more than 400% in the past year.

Key Background

In addition to corporations bulking up their balance sheets with volatile bitcoin, institutional investors continue to bolster adoption in the space. This month alone, the first two bitcoin exchange-traded funds launched in Canada, BNY Mellon announced that its wealth management arm will process cryptocurrencies alongside stocks and bonds, and news broke that Morgan Stanley’s $150 billion investing arm is considering adding bitcoin to its portfolio.

Chief Critic

Bitcoin prices reversed a recent rally on Sunday after Tesla CEO Elon Musk tweeted that its prices seemed “a little high,” fueling concerns among experts that the token’s volatility makes it an unreliable store of value. “The fall that has taken place since [Musk’s tweet] shows just how wild an instrument bitcoin is, how overbought it has become and how influential the Tesla CEO now is in the space,” Oanda Senior Market Analyst Craig Erlam said Tuesday. “I’m not sure any of that is a good thing.”

Further Reading

Not Just Tesla: Big Institutions Keep Piling Into Bitcoin As Price Rockets Past $50,000 (Forbes)

Tesla Has Plunged 25% And Lost $200 Billion In Market Value Since Its Bitcoin Investment (Forbes)

Bitcoin Market Value Shoots Past $1 Trillion Amid Tesla-Fueled Surge (Forbes)

Bitcoin Soars To New High After Tesla Says It Invested $1.5 Billion (Forbes)

Follow me on Twitter. Send me a secure tip.

I’m a reporter at Forbes focusing on markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I double-majored in business journalism and economics while working for UNC’s Kenan-Flagler Business School as a marketing and communications assistant. Before Forbes, I spent a summer reporting on the L.A. private sector for Los Angeles Business Journal and wrote about publicly traded North Carolina companies for NC Business News Wire. Reach out at jponciano@forbes.com.

Source: One Of Bitcoin’s Biggest Backers Just Spent $1 Billion Buying More

.

.

Subscribe, Like, Follow me http://www.twitter.com/cryptorecruitr | ⬇ AFTER THE VIDEO, download my new crypto tracker / profit planner app! ⬇ 📱ios – https://apps.apple.com/us/app/blockga… 📱android – https://play.google.com/store/apps/de…
.
More Contents:
Why the drop may not be over for Bitcoin just yet
ambcrypto.com – Today
[…] Miner’s activity, considered the most critical to Bitcoin’s price action, also signaled the price drop, with the same hinting at a further drop in Bitcoin’s price soon. Bitcoin miners are the biggest sellers in nearly every market cycle, so there is a consistent sale of Bitcoin from miners. Bitcoins from mining pools and individual miner wallets hit spot exchanges, generating liquidity in nearl […]
4
Why the drop may not be over for Bitcoin just yet
[…] Miner’s activity, considered the most critical to Bitcoin’s[2] price action, also signaled the price drop, with the same hinting at a further drop in Bitcoin’s price soon. Bitcoin[3] miners are the biggest sellers in nearly every market cycle, so there is a consistent sale of Bitcoin[4] from miners. Bitcoins from mining pools and individual miner wallets hit spot exchanges, generating liquidity in nearl […]
0
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin liftoff to $60,000 still in the cards
[…] the uptrend toward $60,000 The flagship cryptocurrency is flipping massively bullish after the biggest selloff in weeks. The price appears to have settled above $50,000, allowing bulls the chance to plan the next attack mission to […] Following the massive price drop, the MVRV is near the zero mark – hence Bitcoin is entering a buy zone. Bitcoin MVRV chart Ethereum makes a run for $1,800 after bouncing off critical support The pioneer altcoi […]
2
Ark’s Cathie Wood says she’s still ‘very positive’ on bitcoin – helping the price rise back past $50,000
[…] She said the fall was part of a “healthy correction” after the recent surge in the bitcoin price. Wood said she thinks bitcoin is a better hedge against inflation than gold […] Ark Investment Management boss Cathie Wood said she remains “very positive on bitcoin” despite the recent price drop, helping the world’s biggest cryptocurrency recover to above $50,000. Bitcoin plunged on Monday and Tuesday as investors became nervous about the record-breaking rally tha […]
N/A
Bitcoin dips. What’s next? – Santiment Community Insights
insights.santiment.net – Today
Assets covered: Bitcoin (BTC) Metrics used: Exchange Inflow, Holders Distribution, MVRV, Network Profit/Loss, Socia […] Summary: Some of the interesting and concerning signals about Bitcoin before the dip and where we are now […] The biggest spike since the start of the year suggesting a rising sell-side pressure as some speculator […] It didn’t take long for Bitcoin’s price to react to this sell-off wall […]
0
PDAX exchange glitch leads user to buy Bitcoin for $6,000
[…] Bitcoin at discounted rate Exchange threatens lawsuit if users don’t refund the coin One of Asia’s biggest crypto exchange, PDAX, is currently at loggerhead with its user who bought Bitcoin for $6,000 during a technical glitch. PDAX exchange said the glitch led to Bitcoin price temporarily falling by 88 percent on the platform and trading suspended afterward in a pres […] of the exchange were also shut out of the platform over the weekend during a pivotal moment in Bitcoin as the price surged above $50k for the first time. Outage during Bitcoin price sure is fast becoming a normal thing as Coinbase, Binance also suffered a service outage severall […]
1
Tesla’s Musk loses $15B in day; now 2nd richest in Bezos swap
[…] Tesla’s biggest decline since September was fueled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high […] 5 billion in bitcoin to its balance sheet […]
0
Jeremy discusses his open letter to the US Treasury, USDC & Open Blockchain Transaction regulations –
cryptowatchdaily.com – Today
[…] SMITH One of Southeast Asia’s biggest crypto exchanges is blaming a technical glitch for the price of Bitcoin dropping down to 300,000 PHP, roughly $6,100, on Feb […] “Investors are starting to tie Bitcoin and Tesla at the hip. While Tesla on paper made roughly a $1 billion on Bitcoin in a month that exceeded all its EV… VIEW MORE ARTICLE BY J […]
1
BTC and ETH post-dip: Fundamental Analysis – Santiment Community Insights
insights.santiment.net – Today
[…] only Solana (SOL) managing to buck the trend for the time being: With all eyes now glued to the two biggest tokens, here’s a look at Bitcoin and Ethereum’s latest fundamentals: As noted in our yesterday’s report, Bitcoin’s exchange inflow exploded around its price ATH, vaulting by around +345% compared to its previous 7-day average […] Despite another downtrend, the amount of Bitcoin moving to known exchanges has largely normalized in the past 24 hours, although a few
N/A
Rakesh Jhunjhunwala on Bitcoin: ‘Won’t buy it for even $5’
[…] While bitcoin price has surged over 90 per cent in 2021 alone, the 60-year-old ‘Warren Buffet’ of India has said h […] The unprecedented rally in bitcoin price has been fuelled by a series of investments by some of the world’s biggest companies like Tesla, Mastercard and Bank of New York Mellon […]
1
BTC/USD Forex Signal: Bitcoin May Rebound to $55,000
[…] Bitcoin price is at $50,973, which is 13% above yesterday’s low of $44,900. Advertisement Bitcoin Volatility Continues Bitcoin, the world’s biggest digital currency, has had a difficult period in the past two days […] This happened as many investors started to take profit since the price has more than doubled this year. Also, the price declined as investors reacted to a relatively bearish call by Elon Musk, who said that the price had become extremely expensive […]
0
Exchange demands users return Bitcoin bought for $6K during tech glitch
thebitcoinstreetjournal.com – Today
Exchange demands users return Bitcoin bought for $6K during tech glitch One of Southeast Asia’s biggest crypto exchanges is blaming a technical glitch for the price of Bitcoin dropping down to 300,000 PHP, roughly $6,100, on Feb […] that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bough […]
0
Exchange demands users return Bitcoin bought for $6K during tech glitch
cointelegraph.com – Today
One of Southeast Asia’s biggest crypto exchanges is blaming a technical glitch for the price of Bitcoin dropping down to 300,000 PHP, roughly $6,100, on Feb […] that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bough […] 16 closure occurred during a pivotal moment in Bitcoin’s history as its price soared above $50k for the first time […]
10
Cryptocurrency Market Tops $1 Trillion For First Time – Fasapay Information Center
fasapay.info – Today
[…] Bitcoin has driven the market’s revival, rising in price from below $5,000 last March to above $37,000 today. Follow the latest bitcoin news as it reaches a new record high price The world’s biggest cryptocurrency saw its market cap briefly rise above $700 billion, according to CoinMarketCap […] There appears to be broad consensus among many market analysts and cryptocurrency experts that bitcoin’s current price rally may be far from over. It is the third great bull run in bitcoin’s history, with previous market surges in 2013 and 2017 lasting between 18 and 36 months […]
0
Indian startup founder’s preference for Chinese investors gone down from 29% to 3% in 2021
news.nextbigwhat.com – Today
Tencent, Alibaba had so far been a favourite from China, plans to exit their investments in India. Via YOU MAY ALSO LIKE Tesla’s biggest decline was fueled by Musk’s comment on the prices of Bitcoin and Ether ‘do seem high’. View Post Also plans to be net-zero on carbon emissions by 2039. View Post
2
Introduction to Bitcoin
amber.app – Today
[…] In the past 12mths alone, the price of a Bitcoin has ranged between a high of $43,000 and a low of $4,500 per BTC […] This means that it takes less money buying and selling to significantly sway the price in either direction. The biggest real risk to the continued success of Bitcoin is just a question of: will people want this? Money needs users […]
0
One Of Bitcoin’s Biggest Backers Just Spent $1 Billion Buying More
[…] 5 billion they’re worth at current prices. In a statement, MicroStrategy CEO Michael Saylor said acquiring and holding bitcoin remains one of the company’s two biggest strategic priorities (in addition to growing its analytics software business) and that th […] 5 billion bitcoin investment; much of the plunge has been fueled by crashing bitcoin prices, which have similarly tanked Tesla shares. CRUCIAL QUOTE  “Bitcoin is a bank in cyberspace for people that don’t have the ability to run their own hedge fund,” Saylor […]
1
Exchange demands users return Bitcoin bought for $6K during tech glitch By Cointelegraph
Exchange demands users return Bitcoin bought for $6K during tech glitch One of Southeast Asia’s biggest crypto exchanges is blaming a technical glitch for the price of Bitcoin dropping down to 300,000 PHP, roughly $6,100, on Feb […]
1
What Janet Yellen Gets Wrong About Bitcoin
[…] There’s little evidence that Bitcoin is a main channel for illicit activity. Janet Yellen has again blasted Bitcoin, but critics say several of her assumptions about the cryptocurrency are inaccurate […] But, Carter pointed out, the transactions aren’t the energy-intensive part of Bitcoin mining. Issuing new Bitcoins as part of the mining process and, to a lesser extent, maintaining consensus are what use energy […] Well, given that the currency experienced its biggest-ever price drop today, shedding about 20% of its value in about an hour, well, we’ll give her that one […]
14
Ethereum Miners Are Likely to Accept EIP-1559 Activation
cryptonews.com – Today
[…] One of the biggest problems with first-price auctions currently used by Bitcoin and Ethereum is fee estimation […] Consider a stablecoin project or Wrapped Bitcoin (WBTC) – they represent claims on an asset in the real world, yet duplicating the claim would no […] Dominance to Drop – Pantera Capital CIO – What’s in Store for Ethereum in 2021? – Brace For More Bitcoin Flash Crashes In This Bull Market – Hut 8 Founder – BitMEX Explains the Attack to Doubtin […]
N/A
Russian Orthodox Church will not accept Bitcoin in offering plate –
cryptowatchdaily.com – Today
[…] YOU MAY ALSO LIKE BITCOIN BLOCKCHAIN BUSINESS MARKETS POLICY & REGULATION TECH BITCOIN OPINION BITCOIN BLOCKCHAIN BITCOIN BLOCKCHAIN BLOCKCHAIN TECH BITCOIN INVESTMENT BY J […] SMITH One of Southeast Asia’s biggest crypto exchanges is blaming a technical glitch for the price of Bitcoin dropping down to 300,000 PHP, roughly $6,100, on Feb […]
1
There may now be as many as 100,000 bitcoin millionaires – CBS News
[…] That’s up from just 25,000 bitcoin millionaires three months ago. A year ago, there were about 15,000 millionaire bitcoin accounts. The biggest reason has to do with the highly volatile price of bitcoin, which has soared recently, in part because Tesla, Elon Musk’s car company, last month said it ha […] 5 billion in bitcoin. The move suggests that other companies might also decide to move more of their idle cash into bitcoin. The price of a bitcoin topped $50,000 earlier this month, and hit a high of just over $58,000 on Sunday […]
N/A
Elon Musk loses $20 billion in single day after bitcoin warning | Stuff.co.nz
http://www.stuff.co.nz – February 23
[…] Tesla’s biggest decline since September was fuelled in part by Musk’s comments over the weekend that the prices of bitcoin and smaller rival Ether “do seem high” […] Zhong Shanshan, Asia’s wealthiest person, was the second-biggest decliner on the Bloomberg index, dropping by $5 […]
N/A
Whale Who Sold BTC Before 2021 Crash Cashed Out $156M Before Latest 20% Plunge – Cryptovibes.com – Daily Cryptocurrency and FX News ⋆
[…] Santiment data published on February 23 indicated that bitcoin dropped to $47,400 after BTC’s second-biggest transaction of 2021 happened. Bitcoin Sell-Offs Return The transaction involved 2,700 BTC that was worth $156 […] This sale piled pressure on the market which resulted in the formation of the biggest one-hour candle in bitcoin’s history […]
0
Ethereum Miners Are Likely to Accept EIP-1559 Activation – Analysts
trading.rodeo – February 23
[…] One of the biggest problems with first-price auctions currently used by Bitcoin and Ethereum is fee estimation […] Consider a stablecoin project or Wrapped Bitcoin (WBTC) – they represent claims on an asset in the real world, yet duplicating the claim would no […] BTC Dominance to Drop – Pantera Capital CIO- What’s in Store for Ethereum in 2021?- Brace For More Bitcoin Flash Crashes In This Bull Market – Hut 8 Founder- BitMEX Explains the Attack to Doubtin […]
1
Elon Musk loses $19 billion in a day after Bitcoin warning
http://www.smh.com.au – February 23
[…] Tesla’s biggest decline since September was fuelled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high […] Zhong Shanshan, Asia’s wealthiest person, was the second-biggest decliner on the Bloomberg index, dropping by $US5 […]
N/A
Many feared dead as Boko Haram attacks Maiduguri
thecable.ng – February 23
[…] Bitcoin drops 17% after Elon Musk’s comment on valuation Bitcoin, world’s biggest cryptocurrency, plummeted as much as 17 per cent on Tuesday, with prices tumbling below $50,000 as investors grew nervous at sky-high valuations.Advertisement Bitcoin has been on a […]
29
Tesla shares drop 13% after Bitcoin plummets to below $50k | Daily
[…]   Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said at the weekend that the price of bitcoin and ethereum – the second-largest cryptocurrency – seemed high  BITCOIN DAILY: Bitcoin, which Tesla boss Elon Musk has been heavily touting, faced its biggest daily drop in a month, falling 17 percent to as low as $45,000 on Tuesday […]
N/A
Analyst: Tesla’s Share Price Is Now Directly Tied to Bitcoin Value
http://www.breitbart.com – February 23
[…] Tesla shares dropped in premarket trading on Tuesday, down over 7 percent a day after the stock’s biggest loss in months. Tesla shares closed down 8.55 percent on Monday. This marked Tesla’s biggest drop since September 23, 2020, when it closed down 10.34 percent. Bitcoin’s price took a hit on Tuesday following a warning from U […] Bitcoin prices dropped by 16 percent in the last 24 hours, dropping below $50,000 to trade as low as $45,389 thi […]
2
Troops recapture Borno town — after army chief’s 48-hour ultimatum 
http://www.thecable.ng – February 23
[…] Bitcoin drops 17% after Elon Musk’s comment on valuation Bitcoin, world’s biggest cryptocurrency, plummeted as much as 17 per cent on Tuesday, with prices tumbling below $50,000 as investors grew nervous at sky-high valuations.Advertisement Bitcoin has been on a […]
22
Tesla’s share price is now directly tied to the value of bitcoin, analyst says
Tesla’s share price is now directly linked to the price of bitcoin after Elon Musk’s company invested $1 […] It was Tesla’s biggest drop since Sept. 23, 2020, when it closed down 10.34%. Bitcoin’s price descended further on Tuesday after U […] his Twitter bio to BTC last month, causing it to surge 20%, and over the weekend he said the price of bitcoin and Ethereum seemed “high,” resulting in a sharp fall […]
0
Elon Musk Isn’t The World’s Richest Person Anymore
jalopnik.com – February 23
[…] This is all because Elon’s net worth is inextricably tied with Tesla’s stock price, and Tesla’s stock price has been down in recent days […] Tesla’s biggest decline since September was fueled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high […]
N/A
Whale Who Bought BTC Earlier than 2021 Crash Cashed Out $156M Earlier than Newest 20% Plunge – Cryptovibes.com – Every day Cryptocurrency and FX Information
money-stacks.com – February 23
[…] Santiment knowledge revealed on February 23 indicated that bitcoin dropped to $47,400 after BTC’s second-biggest transaction of 2021 occurred. Bitcoin Promote-Offs Return The transaction concerned 2,700 BTC that was price $156 […] wrote on Twitter: “As we famous yesterday, there was an 11x alternate influx spike that initiated #Bitcoin’s price correction from its $58 […]
0
Bank of Korea chief says crypto has no intrinsic value, expects volatility
marsmasters.com – February 23
[…] The official stated that he expects more price swings on the market, saying, “It is very difficult to predict the price, but its price will be extremely volatile […] 22, bitcoin saw a steep correction with its price plunging from above $58,000 to below $48,000 […] In an interview on Monday, United States Treasury Secretary Janet Yellen criticized Bitcoin and stated that the world’s biggest cryptocurrency is an “extremely inefficient way of conducting transactions […]
0
Stocks making the biggest moves premarket: Home Depot, Palo Alto Networks, Shopify, AMC
http://www.cnbc.com – February 23
[…] (TSLA) — Tesla shares fell more than 5% in premarket trading on Tuesday, after suffering their biggest single-day loss in months on Monday. Wedbush analyst Dan Ives warns Tesla’s share price is now directly linked to the price of bitcoin after the electric vehicle maker’s investment in the cryptocurrency […]  The miss came despite a rebound in oil and gas prices. Shares fell 2.2% premarket. Shopify (SHOP) – Shopify priced a 1 […]
7
Stocks making the biggest moves premarket: Home Depot, Palo Alto Networks, Shopify, AMC
cnbc-us.com – February 23
[…] Tesla (TSLA) — Tesla shares fell more than 5% in premarket trading on Tuesday, after suffering its biggest single-day loss in months on Monday. Wedbush analyst Dan Ives warns Tesla’s share price is now directly linked to the price of bitcoin after the electric vehicle maker’s investment in the cryptocurrency […]  The miss came despite a rebound in oil and gas prices. Shares fell 2.2% premarket. Shopify (SHOP) – Shopify priced a 1 […]
0
The FUD for every top 10 coin and why you should be aware of it : CryptoCurrency
http://www.reddit.com – February 23
[…] Tether – Although its a stablecoin, Tether has possibly the biggest FUD even when compared to bitcoin because of its lack of auditing and what many believe to be “fake” money propping up the price of bitcoin. If tether is ever found out to be artificially pumping Bitcoin with fake reserves, it would make the value of Bitcoin artificial and cause a large crash […]
2
Bitcoin Falls Below $50K
http://www.dailyforex.com – February 23
In its biggest daily drop in a month, Bitcoin fell below the $50,000 level after Elon Musk commented that prices were too high […] The cryptocurrency had been rallying since Musk put #Bitcoin in his Twitter bio and since some major companies, including Tesla and MasterCard, decided to adopt […] reference to the necessity of cryptocurrency regulation, Treasury Secretary Janet Yellen said that Bitcoin was extremely inefficient. “I don’t think that Bitcoin…is widely used as a transaction mechanism,” Yellen said during an interview at CNBC […]
0
Operator of World’s Biggest Bitcoin Mine Planning $500 Million IPO: Report
latestcrypto.news – February 23
Home Decrypt News Operator of World’s Biggest Bitcoin Mine Planning $500 Million IPO: Report Decrypt News Operator of World’s Biggest Bitcoin Mine Planning $500 Million IPO: Report By Andrew Asmakov February 23, 2021 In brief Northern Dat […] 6 Billion in Bitcoin Long Positions Shaurya Malwa – February 23, 2021 In brief Bitcoin traders lost over $1.6 billion yesterday betting on higher prices. The liquidations were some of the biggest ever. Bitcoin has continued its decline today […]
1
Elon Musk loses $15B in a day after Bitcoin warning
[…] Tesla’s biggest decline since September was fueled in part by Mr. Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ethereum “do seem high […] Zhong Shanshan, Asia’s wealthiest person, was the second-biggest decliner on the Bloomberg index, dropping by $5 […]
0
Top headlines: RIL to spin off O2C biz; Airtel, Qualcomm tie up in 5G boost | Business Standard News
[…] Tesla’s biggest decline since September was fueled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high […]
N/A
Crypto selloff sends Bitcoin tumbling below $50,000
http://www.cityam.com – February 23
[…] Bitcoin suffered its biggest daily drop in a month to fall as low as $45,000 before recovering to just over $48,500 […] Analysts pointed to Elon Musk, who commented the price was too high, for the sharp fall in bitcoin over the past day. Musk’s electric vehicle firm Tesla recently invested $1.5bn in bitcoin but as a result of his tweets is set to open lower later today […]
0
Elon Musk’s wealth tumbles by $15 billion after Tesla shares dropped 9% in one day | Currency News | Financial and Business News | Markets Insider
[…] The slide appeared partly fueled by Musk’s tweets that bitcoin and Ethereum’s prices seemed high. Tesla also announced it would halt new orders for the lowest-priced version of its Model Y SUV […] The drop appeared to be fueled partly by Musk tweeting over the weekend that bitcoin and Ethereum p

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: