HERE WE GO AGAIN!
It's incredible, amazing how much media power our friend Elon Musk has, capable of creating enough havoc in the crypto world as soon as he speaks or writes something on twitter!
Only 2 months ago he wrote on his account that Tesla will now accept Bitcoin payment when purchasing one of their car. And the market response was immediately felt, bitcoin immediately had risen by more than 5%.
Then Tesla sold over 250 millions worth of their bitcoins (Musk had previously bought about $ 1.5 billion in bitcoin) with this statement: "Year over year, positive impacts from volume growth, regulatory credit revenue growth, gross margin improvement driven by further product cost reductions and sale of Bitcoin ($101M positive impact, net of related impairments, in 'Restructuring & Other' line) were mainly offset by a lower ASP, increased SBC, additional supply chain costs, R&D investments and other items. Model S and Model X changeover costs negatively impacted both gross profit as well as R&D expenses."
Now, according to the latest tweet, Musk and Tesla company had stopped accepting bitcoin payments when trying to buy a new car.
Musk said "he is concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions"; maybe they didn't know that bitcoin is largely mined with renewable energy (est. 75%)? Maybe is a new market strategy?
The only certain thing is that after this news the price of btc has dropped by more than 10%.
