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Bitcoin price fell below $ 50 thousand to 46 thousand

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The US inflation data for April changed the direction of the wind in all markets. On the stat, the dollar strengthened throughout the market. The profitability of 10-year houses is growing. The fund is collapsing. The cue ball and ether have no choice but to decline as well.

Bitcoin price dropped below $ 50K to 46K after Musk's tweets. Current price $ 50,569. I just woke up, did not understand it yet. Musk is a weird guy ...

Tesla CEO Elon Musk tweeted that the company has stopped accepting bitcoin payments for its cars due to climate concerns. The company has previously been criticized by some investors and environmentalists.

Tesla announced in February that it had bought $ 1.5 billion worth of bitcoin and would soon accept it as payment for cars. This became the backdrop for Bitcoin's growth of 20%.

Musk said Tesla will not sell bitcoins and intends to use bitcoin in transactions once mining moves to more sustainable energy.

"We are also looking at other cryptocurrencies that use less than 1% of the energy / transaction ratio of bitcoin," Musk wrote.

At current levels, Bitcoin mining consumes roughly the same amount of electricity per year as the Netherlands did in 2018, according to the latest estimates from the University of Cambridge and the International Energy Agency.

Several investors questioned Tesla's plans months ago:

"Of course we are very concerned about the CO2 emissions generated by Bitcoin mining," Ben Dear, CEO of Osmosis Investment Management, a "sustainable investment" management of an estimated $ 2.2 billion, said in February when the Tesla acquisition was announced. assets that holds Tesla shares in multiple portfolios.

"Cryptocurrency is a good idea on many levels, and we believe it has a promising future, but it can't do it with great harm to the environment," Musk said.

Vitalik Buterin also had a hand in yesterday's strait through the violas. He donated over $ 1 billion in digital currency to the India COVID-Crypto Relief. He translated the tokens given to him with images of Shiba Inu, Dogelon and Akita Inu dogs. The SHIB token plummeted 50%, AKITA by 62%, and Dogelon by 50%.

Vitalik decided to wreak financial chaos among holders of dog tokens, Musk - among investors in bitcoin.

Posted Using LeoFinance Beta