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| Bitcoin spikes as Elon Musk denies ‘market manipulation’ & says Tesla to resume crypto transactions when mining becomes ‘clean’ | Bitcoin spikes as Elon Musk denies ‘market manipulation’ & says Tesla to resume crypto transactions when mining becomes ‘clean’ |
| (2 months later) | |
| Bitcoin has jumped to over $39,000, ironically after Tesla CEO Elon Musk tweeted to deny accusations of market manipulation with his tweets. He also said that Tesla will resume accepting the cryptocurrency, once it turns green. | Bitcoin has jumped to over $39,000, ironically after Tesla CEO Elon Musk tweeted to deny accusations of market manipulation with his tweets. He also said that Tesla will resume accepting the cryptocurrency, once it turns green. |
| Musk's latest verbal intervention comes in response to a CoinTelegraph story, which quoted the CEO of financial services company Sygnia, Magda Wierzycka, claiming that the recent volatility of bitcoin “is an unexpected function of what I would call market manipulation by Elon Musk.” | Musk's latest verbal intervention comes in response to a CoinTelegraph story, which quoted the CEO of financial services company Sygnia, Magda Wierzycka, claiming that the recent volatility of bitcoin “is an unexpected function of what I would call market manipulation by Elon Musk.” |
| Wierzycka accused Musk of deliberately pumping the price of bitcoin only to sell “a big part of his exposure at the peak.” | Wierzycka accused Musk of deliberately pumping the price of bitcoin only to sell “a big part of his exposure at the peak.” |
| Musk denied the charge, claiming that Tesla only sold a small portion of its crypto holdings, and only to test the market liquidity. | Musk denied the charge, claiming that Tesla only sold a small portion of its crypto holdings, and only to test the market liquidity. |
| Musk also said that when there is a “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions.” | Musk also said that when there is a “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions.” |
| As a result of the exchange, bitcoin spiked and was trading at over $39,000 on Monday morning, compared to $35,800 the day before. | As a result of the exchange, bitcoin spiked and was trading at over $39,000 on Monday morning, compared to $35,800 the day before. |
| Last week, a group claiming to be part of the Anonymous movement called for war with Elon Musk, also accusing him of manipulating cryptocurrencies, among other alleged sins. | Last week, a group claiming to be part of the Anonymous movement called for war with Elon Musk, also accusing him of manipulating cryptocurrencies, among other alleged sins. |
| “You may think you are the smartest person in the room, but now you have met your match,” the group said in a video message posted on Saturday on a verified Anonymous YouTube channel with some 145,000 subscribers, as well on its Twitter account with over 5.8 million followers. “We are Anonymous. We are legion. Expect us.” | “You may think you are the smartest person in the room, but now you have met your match,” the group said in a video message posted on Saturday on a verified Anonymous YouTube channel with some 145,000 subscribers, as well on its Twitter account with over 5.8 million followers. “We are Anonymous. We are legion. Expect us.” |
| Musk, who also founded SpaceX and ranks as the world's third-richest person with a fortune estimated at $151 billion, attracted much ire recently with his tweets that caused bitcoin prices to tumble. Just last week, the digital currency dropped more than 6% after he posted a meme of a couple breaking up below symbols for bitcoin and a broken heart. | Musk, who also founded SpaceX and ranks as the world's third-richest person with a fortune estimated at $151 billion, attracted much ire recently with his tweets that caused bitcoin prices to tumble. Just last week, the digital currency dropped more than 6% after he posted a meme of a couple breaking up below symbols for bitcoin and a broken heart. |
| READ MORE: Musk tweets cryptic message suggesting breakup with bitcoin, prompting Twitter to erupt with memes | READ MORE: Musk tweets cryptic message suggesting breakup with bitcoin, prompting Twitter to erupt with memes |
| Back in February, Tesla revealed it had bought $1.5 billion of bitcoin and was palnning to accept it as a payment for its electric vehicles. In May, however, Musk made a U-turn, announcing that Tesla will not accept bitcoin, citing “environmental concerns.” | Back in February, Tesla revealed it had bought $1.5 billion of bitcoin and was palnning to accept it as a payment for its electric vehicles. In May, however, Musk made a U-turn, announcing that Tesla will not accept bitcoin, citing “environmental concerns.” |
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