Elon Musk says you'll 'indeed' slap yourself when Tesla sells Bitcoin

Tesla CEO Elon Musk agrees that Bitcoiners will 'indeed' slap themselves when Tesla sells its Bitcoin holdings next quarter.

@Jak_ConnorTT
Published Tue, May 18 2021 2:33 AM CDT   |   Updated Mon, Jun 14 2021 8:30 PM CDT

The price of Bitcoin (BTC), at the time of writing this, is currently in a downwards trend after a series of tweets from Tesla CEO Elon Musk.

On May 16, Twitter user Mr. Whale posted a tweet that stated, "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their Bitcoin holdings. With the amount of hate @elonmusk is getting, I wouldn't blame him...". Musk replied to the tweet with a simple "Indeed", and later followed up with another reply to a post where he said that Tesla hasn't sold any of its Bitcoin.

You don't need to be a genius to see some sort of connection between the price of bitcoin and Musk's Twitter posts. The question that is raised now is how do you quantify the level of impact a single tweet from Musk can cause on the market, and is this healthy for the cryptosphere as a whole? Cryptocurrency is still in its infancy, and as it continues to grow and be adopted, answers to the above questions will undoubtedly be found as governments become involved.

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'

Elon Musk stops Bitcoin payments for Tesla, cites mining energy costs

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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