How Elon Musk Reacted To Bitcoin Hitting Record High

Asia's Tech News Daily

#bitcoin, #cryptocurrency, #Elon Musk, #Tesla, October 21, 2021

Elon Musk (Illustration: Moneycontrol)

Bitcoin has hit a new record, surging past $65,000 (Rs. 48,65,770) after it took another step towards mainstream status as the world’s biggest cryptocurrency forayed onto Wall Street.

Tesla chief Elon Musk shared a meme on Twitter celebrating Bitcoin’s record surge. The billionaire’s meme shows a couple in bed, staring at a screen which shows Bitcoin at $69,000 and Ethereum at $4,200.

— Elon Musk (@elonmusk) October 21, 2021

Bitcoin traded at Rs 50,40,223 around 8.25 am (India time) with a dominance of 46.49 percent. This was  a 1.16 percent decrease over the day.

In February, Tesla revealed it had bought $1.5 billion of Bitcoin, world’s leading cryptocurrency, and would accept it as a form of payment for cars.

He announced in May that Tesla would no longer accept Bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company’s position on the cryptocurrency. Bitcoin fell more than 10% after his tweet.

The billionaire said that he believed cryptocurrency has a promising future, but it cannot be at great cost to the environment.

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