Bitcoin has returned all the gains since musk first embraced the cryptocurrency
Success is musk, failure is musk. Tesla announced on February 8 that it would use the company’s cash to buy the digital assets and accept bitcoin as a payment method for its vehicles, driving bitcoin up. Now bitcoin has returned to all the gains it has made since Tesla’s announcement. The world’s largest cryptocurrency is down about 40% from a record high of nearly $65000, trading at about $39360 at 6:36 a.m. London time, before Tesla disclosed its investment. Tesla CEO musk himself exacerbated the volatility, and last week musk surprised cryptocurrency supporters by announcing that the company would no longer accept bitcoin to pay for cars. As musk continues to criticize bitcoin’s environmental costs, market sentiment is rising