How Elon Musk reacted to Bitcoin hitting record high
Earlier this year, Elon Musk's Tesla revealed it had bought $1.5 billion of Bitcoin.
October 21, 2021 / 09:44 AM IST
Elon Musk (Illustration: Moneycontrol)
Bitcoin has hit a new record, surging past $65,000 (Rs. 48,65,770) after it took another step towards mainstream status as the world's biggest cryptocurrency forayed onto Wall Street.
Tesla chief Elon Musk shared a meme on Twitter celebrating Bitcoin’s record surge. The billionaire’s meme shows a couple in bed, staring at a screen which shows Bitcoin at $69,000 (Rs. Rs. 51,65,098.50) and Ethereum, the other big cryptocurrecy, at $4,200 (Rs. 3,14,397.30).
Bitcoin traded at Rs 50,40,223 around 8.25 am (India time) with a dominance of 46.49 percent. This was a 1.16 percent decrease over the day.
In February, Tesla revealed it had bought $1.5 billion of Bitcoin, world's leading cryptocurrency, and would accept it as a form of payment for cars.
He announced in May that Tesla would no longer accept Bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency. Bitcoin fell more than 10% after his tweet.
The billionaire said that he believed cryptocurrency has a promising future, but it cannot be at great cost to the environment.