Once Again, Elon Musk Has Tweeted and Bitcoin Crashed

The Dogefather strikes again.

It seems Elon Musk just can’t help himself from influencing global cryptocurrency prices with his tweets, as once again a one-worded Twitter reply from the billionaire has caused Bitcoin's price to plummet.

Responding to a tweet from @CryptoWhale that said, “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of the #Bitcoin holdings,” the Tesla CEO replied early this morning with one word: “indeed.”

When Musk tweeted, one Bitcoin was worth $65,157. At the time of writing the price has dropped to $57,344. Big ooft.

This crash comes less than a week after another Musk related Bitcoin crash. That time around the eccentric Musk posted how Tesla would be suspending Bitcoin payments for the purchase of Tesla products, citing their concern for the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions.”

He certainly wasn’t banging the eco drum when Tesla sold 10 per cent of their Bitcoin holdings in April for a cool $US101 million profit. I wonder what changed?

Weirdly, in last week’s tweet, The Dogefather said Tesla would not sell any more of their Bitcoin, but today’s tweet implies they have now sold all of it. Now I don’t know what to believe.

If we can’t trust billionaires, who can we trust? (Pls note the sarcasm, don't @ us).

Speaking of Dogecoin, Musk continues to be the meme coin’s biggest fan. After pumping the cryptocurrency a few weeks ago on Saturday Night Live, Musk doubled down on his love for Doge over the weekend, hoping to see it increase transaction speeds and lower fees.

“Ideally, Doge speeds up block time 10X, increases block size 10X & drops fees 100X. Then it wins hands down,” Musk wrote on Twitter.

“Working with Doge devs to improve system transaction efficiency. Potentially promising.”

pic.twitter.com/I6eDfSdO2A

— Chicago Glenn🔋🚗🇺🇸 (@chicago_glenn) May 13, 2021

In response to Musk’s love of Dogecoin, the co-creator of the coin Aussie Jackson Palmer came out of the shadows to tweet about Musk’s obsession with the cryptocurrency.

“Elon Musk is and always will be a self-absorbed grifter,” Palmer wrote.

“Removing this in one min as that’s all I have to say and I enjoy the quiet life. Ps. SNL episode was cringe, bro.”

Jackson Palmer, hidden for years,

steps out from the shadows

executes a headshot with brutal precision

and fades back in 🙌 pic.twitter.com/JWJErWmPeV

— notsofast (@notsofast) May 14, 2021

Whether you love Musk or hate him, you gotta admit Palmer has got a point about his SNL appearance.

Header Image: Pool / Pool via Getty Images