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Elon Musk's relationship with Bitcoin is quite fascinating. Initially, he was skeptical about Bitcoin, viewing it mainly as a means for illegal transactions back in 2014.¹ However, over time, his stance evolved, and by 2021, Tesla invested a whopping $1.5 billion in Bitcoin, marking a significant milestone in the cryptocurrency's history.
Musk's influence on Bitcoin's price is remarkable, with his tweets causing double-digit percentage movements in the cryptocurrency's value. His comments on Bitcoin have been thoughtful and nuanced, acknowledging both its strengths and limitations.
Interestingly, Musk has also expressed interest in other cryptocurrencies, like Dogecoin and Ethereum. His support for Dogecoin has been particularly notable, with Tesla even accepting it as payment for merchandies @BitlayerLabs $BTC
Musk's influence on Bitcoin's price is remarkable, with his tweets causing double-digit percentage movements in the cryptocurrency's value. His comments on Bitcoin have been thoughtful and nuanced, acknowledging both its strengths and limitations.
Interestingly, Musk has also expressed interest in other cryptocurrencies, like Dogecoin and Ethereum. His support for Dogecoin has been particularly notable, with Tesla even accepting it as payment for merchandies @BitlayerLabs $BTC
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