Bitcoin users are happy to get rid of the Tesla-induced decline in the past. Tesla company previously announced that it would receive payments with Bitcoin, but after a while, it decided to stop payments by stating that Bitcoin was not environmentally friendly.
Bitcoin hit $57,000 for the first time since Tesla stopped accepting payments in the largest cryptocurrency. According to the charts, Bitcoin bulls seem to have completely controlled the market right now.
In retrospect, on May 12, Bitcoin took a pretty big hit as it tried to climb back to the $58,000 level. As we mentioned at the beginning of this article, this blow came from Tesla. Tesla company, which previously announced that it would receive payments with Bitcoin, decided to stop the payments after a while, stating that Bitcoin was not environmentally friendly. After this news announced by Elon Musk, Bitcoin lost more than 16% in value.
Of course, after this news, discussions about how environmentally friendly cryptocurrencies were also started, and the search for environmentally friendly crypto money was started.
Elon Musk’s move was not limited to this. Although Bitcoin miners tried to convince Musk about the benefits of mining as a community, Musk did not listen to these efforts and news spread that he could sell the nine-digit Bitcoin he held. This caused things to come to a boiling point.
As a result, Musk did not sell his BTCs and met with the Bitcoin community. A meeting helped BTC breathe a sigh of relief.
Speaking at the “B Word” conference held at the end of July, Musk said it is likely that Tesla will continue to accept Bitcoin payments. After these explanations, Bitcoin started to correct and upgrade itself again. Bitcoin, which has increased its value by more than 80% since the conference, seems to continue this rise for a while.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.