Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Altcoin1998$ on June 08, 2021, 01:03:27 PM
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A big part of the latest volatility of bitcoin’s price came after Elon Musk started tweeting about it. Most recently, Musk addressed the ESG issues of the mining process. Consequently, Tesla dropped BTC as a payment method, causing a plunge in its price.
“ESG is not going away. Elon was pressured. I believe, by his shareholders of Tesla to speak out about this because they live with sustainability committees and they’re not on the side with Bitcoin being used as a currency to buy Tesla cars. And so they probably pressured him to make the statement he made.” – Said O’Leary.
However, O’Leary also said that he understands why Tesla’s founder would do it. “After all, his car company (Tesla) is more valuable than the Bitcoin he has.”
When asked if he is worried that one tweet can impact the price of bitcoin, sometimes even by more than 10%, as it often happens when Musk tweets, O’Leary replied that he is not concerned.source (https://cryptonews.net/767673/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)