Elon Musk clarifies 'Tesla has not sold any Bitcoin'

Last week, Elon Musk stopped accepting Bitcoin (BTC) as payment for Tesla vehicles, and since then, speculation has started that Musk sold Tesla's Bitcoin holdings for a profit.

Musk announced that Tesla will no longer accept BTC as payment, citing the cryptocurrency's fossil fuel usage for Bitcoin mining and transactions. Tesla's announcement caused BTC's value to tumble downwards, which sparked a lot of controversy online where people speculated that Musk was manipulating the price of BTC for profit.

Now, the Twitter account Bitcoin archive posted the above Tweet, stating "Bitcoin is down 20% since Elon Musk started sh*tposting. And you wonder why some people are mad?". Musk replied to this tweet, stating the following, "To clarify speculation, Tesla has not sold any Bitcoin". As you may expect, this Tweet from Musk clarifying that Tesla is still holding its BTC will no doubt affect the price of BTC, which at the time of writing this is sitting at around $44,000.

More Elon Cryptocurrency News:

Elon Musk may allow Tesla vehicles to be purchased with Dogecoin

Elon Musk is working with Dogecoin developers, says it's 'promising'