The price of Bitcoin Tumble for the first time in almost three months after the billionaire owner of the electric-car maker Tesla Inc agreed with a Twitter post that said Tesla should divest its 1.5 Billion dollars stake in Bitcoin.
Since then the price of Bitcoin has continued to drops amid pressure from investors to sell off their stake briefly sending it to the lowest since February. The online commentary was the latest by Elon Musk in a week after the public statement that has turbid Bitcoin with over 15,000 dollars.
The volatility of bitcoin has continued to prepare the mind of investors that bitcoin may be viable crypto if it remains the best, but Elon Musk’s statements can not be overlooked when it comes to payment and energy consumption as he is one of the few experts who are knowledgeable in both areas.
Bitcoin is one of the top cryptocurrencies with a market capitalization of over 834.64 billion the currency was invented in 2008 and began use in 2009 when its implementation was released on an open-source software it has around 106 million users around the world. The currency is a decentralized digital currency, without a central bank or a single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need of intermediaries.