Sunday, September 14, 2025

Latest

Elon Musk’s Bitcoin Comments Trigger $365 Billion Sell-Off In Crypto Market

The world’s largest digital asset, bitcoin, plummeted sharply following Tesla CEO Elon Musk’s twitter comments on Wednesday resulting in hundreds of billions of dollars in losses.

Bitcoin fell to a new low of $45,700 on Wednesday— the lowest since the beginning of March, before recovering to nearly $49,000 at the time of writing. The sudden decline in price is largely attributed to a recent tweet posted by Musk, announcing that Tesla will no longer accept bitcoin as payment due to environmental impacts. The Tesla CEO pointed to the excessive use of fossil fuels and electricity needed for bitcoin mining.

The value of the entire crypto market suffered a plunge, with more than $365 billion being wiped out from the entire cryptocurrency market. The market dropped to around $2 trillion, before paring back some of the earlier declines. Musk’s comments have been known to trigger significant fluctuations in financial markets; back in March, the billionaire announced that Tesla would begin accepting bitcoin as payment after the automaker purchased $1.5 billion worth of the digital token, sending its price skyrocketing.


Information for this briefing was found via CoinMarketCap. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

No, Anthony “Pomp” Pompliano Isn’t Done With Bitcoin — Maybe It’s Just Character Development?

The meme account @BusinessFamous called it: the Twitter profile of Anthony Pompliano, more popularly known...

Sunday, September 11, 2022, 03:13:00 PM

Hong Kong Veers Away From China, Plans to Legalize Retail Crypto

Hong Kong is taking steps to reassure businesses that the city’s official stance on cryptocurrencies...

Friday, October 28, 2022, 03:13:00 PM

Bitcoin Mining Less Energy-Intensive Than Banking System and Gold Industry

The explosion in cryptocurrency mining over the past year has prompted an onslaught of environmental...

Monday, May 17, 2021, 04:25:00 PM

Tesla And Its US$500-Million Bitcoin Problem

Among the current issues hurling Tesla (Nasdaq: TSLA), it seems like problems are something of...

Tuesday, June 14, 2022, 12:17:00 PM

“The Girls Are Fighting”: An In-depth Explainer On Trump-Musk Slugfest

What began as one of the Trump administration’s most conspicuous bromances now threatens to redraw...

Friday, June 6, 2025, 09:38:05 AM