40 trillion yen blows away after Tesla stops 'buying a car with Bitcoin', Elon Musk justifies on Twitter
Tesla CEO Elon Musk announced in March 2021 that he would 'make Tesla cars available for Bitcoin,' but 49 days later he stopped buying Tesla cars in Bitcoin. As a result, the price of Bitcoin, which had been rising, plummeted, and it is reported that about 41 trillion yen was blown away in the entire market.
Bitcoin (BTC) price falls after Tesla stops car purchases with crypto
Bitcoin, Dogecoin prices fall after Musk says Tesla is dropping Bitcoin --CNET
https://www.cnet.com/news/bitcoin-dogecoin-prices-fall-after-musk-says-tesla-is-dropping-bitcoin/
In March 2021, Mask CEO announced that Tesla cars are now available for purchase with Bitcoin. The announcement stated that for the time being, Bitcoin can only be purchased in the United States, but by the second half of 2021, people outside the United States will also be able to use Bitcoin.
Tesla cars can now be purchased with Bitcoin-GIGAZINE
However, only 49 days later, on May 12, Musk announced that he would stop buying Tesla cars with Bitcoin. The reason is 'I was concerned about the impact on the environment.'
Tesla Stops Bitcoin Payment Support Just 49 Days After Introducing-GIGAZINE
Bitcoin prices plummeted after CEO Musk said. Even if you look at the graph below, you can see that the graph has dropped sharply on May 13th, Japan time (May 12th, local time).
According to data from Coinmarketcap.com, the value of the entire cryptocurrency market was $ 2.43 trillion (about 266 trillion yen) around 18:00 local time on May 12, local time announced by CEO Musk, but until 20:45 In addition, the market capitalization has decreased to 2.06 trillion dollars (about 225 trillion yen), which means that about 41 trillion yen has been blown away.
The graph recovered a little around 15:00 the next day, but before CEO Mask said it was about 6.17 million yen per bitcoin, but at the time of writing the article it was about 5.49 million yen, a decrease of about 10%. I am. It is the first time since April 26, 2021 that the price of 1 Bitcoin has fallen below 5.5 million yen.
Following the fall in prices, Musk then said on Twitter, 'What I want to make clear is that I believe in cryptocurrencies, but cryptocurrencies use fossil fuels, especially coal. It cannot be increased significantly. '
To be clear, I strongly believe in crypto, but it can't drive a massive increase in fossil fuel use, especially coal
— Elon Musk (@elonmusk) May 13, 2021
' We will work with Dogecoin developers to improve the transaction efficiency of the system. This can be promising,' he said. In addition to the price of Bitcoin, the price of Dogecoin has plummeted.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
— Elon Musk (@elonmusk) May 13, 2021
In addition, I tweeted with the sentence 'As usual' and the image 'Pani Kuruna'.
As always pic.twitter.com/gtFmtokzEZ
— Elon Musk (@elonmusk) May 13, 2021
Bitcoin has recorded a rise in price, with its value reaching a record high since the beginning of 2021. On the other hand, since Bitcoin mining uses a large amount of electricity, it has long been a concern for its impact on global warming. Bill Gates made a statement in March 2021 that Bitcoin will have an adverse effect on the earth.
Bill Gates says 'Bitcoin has a bad effect on the earth' --GIGAZINE
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