Open Demo Account
Home / Market Update / Cryptocurrency / Bitcoin Declines Following Brief Surge on Tesla’s Tweet

Bitcoin Declines Following Brief Surge on Tesla’s Tweet

M. Ali 25 March, 2021 12:09 am Cryptocurrency, Market Update

Customers of Tesla can now purchase the company’s famous electric cars using Bitcoin, the company’s CEO Elon Musk announced on Wednesday through Twitter.

“You can now buy a Tesla with Bitcoin,” Musk tweeted.

Earlier this year, Tesla decided to invest $1.5 billion in the cryptocurrency, which helped Bitcoin reach new all-time record highs amid increased demand from institutions.

Following Musk’s tweet, the biggest digital currency in the world in terms of market capitalization, rose by as much as 4% above $56,000.

Following some selling pressures and profit-making, Bitcoin is now down by about 1.60% at $54,818, extending its decline over the past seven days to about 4.2%.

Tags

Check Also

Bitcoin Drops as Crypto Markets Await Clarity on Trump’s Policies

Bitcoin fell sharply on Tuesday, retreating from record highs, as traders awaited concrete policy signals …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends