The crypto market is known to be a volatile market, and what has increased its volatility in the recent period is Musk’s controversial statements regarding Bitcoin.
After many controversial comments, the CEO of the electric car giant Tesla made it clear that the company still held all of its bitcoins.
As a result, the Bitcoin price saw a surprising increase of over $ 2,000.
Musk continues his game of statements and tweets regarding Bitcoin, the latest of which is Musk’s assertion that the company has not sold any of its BTC.
It seems that the bitcoin price is still sensitive to Mask’s comments, as the tweet and recent positive interaction contributed to the Bitcoin movement upwards.
Within minutes, Bitcoin jumped from its 3-month low of $ 42,400 to over $ 45,000.
Musk’s explanation comes amid several controversial comments he made regarding the relationship between Tesla EVs and Bitcoin.
As is known lately, Tesla has suspended and halted payments for Bitcoin for its products, citing environmental issues.
As a result, Bitcoin fell sharply by $ 12,000 per day.
Earlier in Bitcoin Arabs we mentioned Musk’s hints about Dogecoin and the likelihood that he would adopt it as a means of payment and sell parts of Tesla’s bitcoin.
Of course, the price was down at the time, but the latest post offset most of the daily losses.
However, Bitcoin is still down by $ 13,000 since Tesla announced that it would stop receiving bitcoin payments.
As he told us, Musk’s comments caused Bitcoin volatility and collective pain among those interested in cryptocurrencies.
According to the “Bybt” platform, the liquidations in the past 24 hours have reached nearly $ 2.4 billion.
The largest single liquidation occurred on “Huobi” where a trader lost $ 90 million Bitcoin.