Elon Musk Reacts to Bitcoin Hitting New All-Time High October 21, 2021 October 21, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsOctober 21, 2021 by Kelly Cromley

Elon Musk Reacts to Bitcoin Hitting New All-Time High

Bitcoin has set a new all-time high, soaring over $65,000, as the world’s most valuable cryptocurrency made its first entrance onto Wall Street, marking yet another step towards mainstream acceptance. Elon Musk, the CEO of Tesla, posted a meme on Twitter in celebration of Bitcoin’s record rise.

The billionaire’s meme depicts a couple lying in bed, looking at a screen on which Bitcoin is valued at $69,000 and Ethereum, the other major cryptocurrency, is valued at $4,200, respectively. Bitcoin now has a dominance ratio of 46.49 percent, according to CoinMarketCap. This was a 1.16 percent drop from the previous day.

Tesla said in February that it had purchased $1.5 billion worth of Bitcoin, the world’s largest cryptocurrency, and that it would accept Bitcoin as a method of payment for its vehicles.

Tesla’s CEO, Elon Musk, said in May that the business will no longer accept Bitcoin for vehicle sales, citing long-brewing environmental worries as the reason for the company’s rapid change of its stance on cryptocurrencies. Following his post, the price of bitcoin dropped by more than 10%.

The billionaire said that he believes cryptocurrencies has a bright future, but that growth must not come at the expense of the environment in any way.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.