What just happened? Elon Musk is at information technology again. Afterward crashing the price of Bitcoin concluding week when he announced Tesla would no longer have the crypto as payment, BTC sunk to a 3-month low following Musk'south hint that the EV giant is considering or may already accept sold some of its Bitcoin. He's now confirmed that his company has not sold any of its holdings, merely the price remains below $46,000.

Bitcoin'due south booming price hit an all-fourth dimension high in Feb when Tesla appear information technology had invested $ane.5 billion in the crypto and would soon exist accepting information technology as payment for its products. But Musk reversed the latter decision last week, citing the environmental concerns surrounding Bitcoin mining. The move saw BTC's price collapse 17%, though it did rebound slightly.

Musk dealt another blow to Bitcoin over the weekend when he appeared to concord with a tweet that unsaid Tesla would sell or may already have sold off its bitcoin holdings.

User @CryptoWhale tweeted: "Bitcoiners are going to slap themselves next quarter when they detect out Tesla dumped the residuum of their Bitcoin holdings. With the amount of hate [Elon Musk] is getting, I wouldn't blame him." To which Musk replied, "Indeed."

Musk only tweeted that Tesla has not sold its Bitcoin holdings, steadying its price. At the fourth dimension of writing, BTC still remains beneath $46,000.

Tesla revealed in March that it had sold 10% of its Bitcoin holdings. And while that did impact the crypto'south cost, the impact was softened by Musk's balls that the sale was to demonstrate its "liquidity." The world's second-richest man likewise said he hadn't sold whatsoever of his personal Bitcoin holdings, though how much he owns is unclear.

Musk'southward actions accept been affecting Dogecoin's value, besides. He sent the price tumbling 35% last week when he described it as a "hustle" during his appearance on Saturday Night Live, though he helped Doge make back some of the losses by proposing an upgrade to its efficiency and tweeting a poll asking if Tesla should accept it as payment.