Bitcoin, Dogecoin sink after Elon Musk walks back Tesla’s support for crypto transactions
- Date: 13-May-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin, Dogecoin sink after Elon Musk walks back Tesla’s support for crypto transactions
Elon Musk said on Wednesday that Tesla would stop accepting Bitcoin in car purchases — even though the company continues to hold the digital coin on its books.
The move — announced by Musk in a Twitter post— took cryptocurrency enthusiasts by surprise, and drove down the price of Bitcoin after hours. In post-market action, the currency dropped by 5%.
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