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Tesla drops Bitcoin price and MicroStrategy buys in the fall

After promoting Bitcoin in the past few months, Elon Musk stepped back and caused prices to crash. While the billionaire causes the price to drop, MicroStrategy takes the opportunity to buy 271 BTC.

After promoting Bitcoin in the past few months, Elon Musk stepped back and caused prices to crash. While the billionaire causes the price to drop, MicroStrategy takes the opportunity to buy 271 BTC.

After promoting Bitcoin in the past few months, Elon Musk stepped back and caused prices to crash. While the billionaire causes the price to drop, MicroStrategy takes the opportunity to buy 271 BTC.

On Wednesday (12), the executive announced that Tesla will no longer sell its cars with the cryptocurrency.

The reason, according to a Musk publication, would be the “environmental impact” caused by BTC mining. However, Tesla’s CEO has not closed himself off to the cryptocurrency market.

According to Musk, the decision to suspend sales with Bitcoin is based on the supposedly high consumption of energy generated on the network.

“To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal” he reveals.

The publication caused a hard correction in Bitcoin, with the retraction, BTC left the $50 thousand zone.

The fall of BTC impacted other large cryptocurrencies in market value, which also recorded double-digit declines.

However, Michael Saylor, the CEO of Microstrategy, did more than speak. MicroStrategy bought $15 million in Bitcoin after the sharp drop.

With the purchase, the company already totals 91,850 BTC purchased at an average price of approximately $24,403.

In this way, MicroStrategy reinforces its confidence in Bitcoin as a store of value.

However, Musk has not changed his mind about Bitcoin in general, as he revealed on a tweet that he has been working with the developers of Dogecoin (DOGE) to improve system transaction efficiency .

One thought on “Tesla drops Bitcoin price and MicroStrategy buys in the fall”

  1. Pingback: Dogecoin co-creator returns to Twitter to curse Elon Musk: “He’s a self-absorbed grifter” - Digest Time
  2. Trackback: Dogecoin co-creator returns to Twitter to curse Elon Musk: “He’s a self-absorbed grifter” - Digest Time

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