Elon Musk, CEO of Tesla and SpaceX, has a major influence on the cryptocurrency market thanks to his statements and decisions. Here are some of the notable decisions and statements he made about cryptocurrencies that impacted the market:
1. **Tesla investment in Bitcoin**:
- In February 2021, Tesla announced that it had purchased $1.5 billion worth of Bitcoin. This announcement contributed to the rise in the price of Bitcoin to record levels.
2. **Accepting Bitcoin as a payment method**:
- In March 2021, Tesla announced that it would accept Bitcoin as a form of payment for purchasing its cars. This move was considered an important sign of the adoption of digital currencies by major companies.
3. **Stop accepting Bitcoin due to environmental concerns**:
- In May 2021, Musk announced via Twitter that Tesla would stop accepting Bitcoin as payment, citing environmental concerns related to Bitcoin mining and its large energy consumption. This decision led to a sharp decline in the price of Bitcoin.
4. **Promoting other digital currencies**:
Musk has been active in promoting other digital currencies such as Dogecoin. His constant tweets about Dogecoin, including his statement that he is working with Dogecoin developers to improve its efficiency, have led to significant spikes in the price of the coin.
