Elon Musk and Michael Saylor played a significant role in shaping crypto investor sentiment during the second quarter, underscoring just how nascent digital asset investing remains when compared with other, more established markets. Sentiment-driven analysis from The TIE and eToro USA reveals the extent to which Musk and Saylor impacted Bitcoin (BTC) values in the second quarter. The results were presented in eToro USA’s quarterly report, titled “The True Value of Influence.” Elon Musk On average, Musk’s Bitcoin tweets were followed by a 1.6% decline in BTC’s price over the proceeding 24 hours, the report showed. However, Musk’s Bitcoin-focused tweets …

Tesla CEO Elon Musk has revealed for the first time that his firm SpaceX owns Bitcoin (BTC). The company is yet to officially announce how much Bitcoin it has purchased, however, Musk’s other company, Tesla, purchased $1.5 billion of the cryptocurrency earlier this year, which sparked a major Bitcoin price rally. That rally came to an abrupt end after Tesla stopped taking Bitcoin payments due to environmental concerns, but speaking at “The ₿ Word” — a virtual event dedicated to Bitcoin — the erratic tech billionaire suggested Tesla was on the verge of accepting the cryptocurrency again following promising signs …

Tesla CEO Elon Musk has hinted that the crypto industry is on its way toward greener future, but Tesla won’t be accepting Bitcoin payments just yet. Speaking at "The ₿ Word," a virtual Bitcoin (BTC) event, with Twitter CEO Jack Dorsey, Ark Invest’s Cathie Wood and moderator Steve Lee from Square Crypto, Musk said that Tesla would “most likely” consider resuming crypto payments for its vehicles — a policy the CEO said the company would be stopping in May — but said he needed to exercise diligence before making a decision. “There appears to be a positive trend in the …

Market analysts are arguing that Tesla’s exposure to Bitcoin (BTC) may be the reason for its sharp decorrelation from Big Tech in recent weeks. As of Wednesday, July 14, the 20-day correlation between the company’s price and the Nasdaq 100 index has dropped from 0.83 on June 17 down to 0.14. Whereas Tesla has shed almost 4% this month, the Nasdaq 100 is up by over 2%. A weakened correlation between Tesla shares and the NYSE FANG+ index is also observable, as BNN Bloomberg reported. Amy Wu Silverman, a derivatives strategist at RBC Capital Markets, told reporters: “Tesla is highly …

On July 8, Max Keiser and Stacy Herbert hosted an Elon Musk-inspired show in Austin, Texas. Aptly named “F*ck Elon,” the event, which included a large number of Bitcoin (BTC) maximalists, was surely a rowdy affair. Keiser is known for many things, but restraint is not necessarily one of them. Although we can debate the merits of such a provocatively titled party, Musk’s divisiveness is certainly not up for debate. Earlier this year, the Bitcoin community — including the maximalists — were vocal supporters of Musk. He saw value in Bitcoin and Bitcoin saw value in Musk, one of the …

Bitcoin’s (BTC) second-quarter price battering has pundits speculating that Tesla may have to report a loss of up to $100 million for Q2. With the price of Bitcoin recently dropping to revisit levels last seen in January, CNBC business analyst Kate Rooney asserted on Tuesday that Tesla may face an “impairment charge” — requiring it to report the drawdown in a disclosure to the United States Securities and Exchange Commission. She noted that as Tesla first disclosed its $1.5 billion in Bitcoin purchases in February, and onlookers believe the electric vehicle manufacturer may have been underwater at the end of …

Tesla CEO and Dogecoin (DOGE) enthusiast Elon Musk may be speaking at an event aimed at educating institutional investors on Bitcoin (BTC). In a Twitter discussion with Jack Dorsey, Musk agreed to speak at “The ₿ Word,” a July 21 virtual event hosted by the Crypto Council for Innovation and featuring major players in the crypto space. “As more companies and institutions get into the mix, we all want to help protect and spread what makes #bitcoin open development so perfect,” said Dorsey. “This day is focused on education and actions to do just that.” Musk responded to Dorsey with …

Two payments firms have partnered to roll out crypto payments across 50,000 electric vehicle (EV) charging stations in Europe. The partnership is between Irish e-commerce and mobile payment solutions firm HIPS Payment Group Ltd and Vourity, a Swedish firm that specializes in unattended payment facilities such as EV charging stations. The integration of crypto payments with charging stations will occur over the next three years starting from November 2021. The firms haven’t revealed which cryptocurrencies will be supported yet, but Vourity has dropped a pretty strong hint that Ethereum is likely to be among the first after it released an …

Elon Musk’s ability to move cryptocurrency markets with his tweets represents a danger to the average investor, said CoinSwap founder Erik Nurm, but the furor created around the Tesla CEO’s social media activity could draw more eyes to crypto in the long run. Nurm pointed out that Musk’s tendency to tweet about Bitcoin (BTC), Dogecoin (DOGE) and other cryptocurrencies began shortly after the Tesla chief was banned from tweeting about his own company by the United States Securities and Exchange Commission. “Elon has been manipulating the market by creating FUD around Bitcoin. He is playing the same game he did …

Bitcoin (BTC) starts a new week on a pleasant high thanks to a boost from a familiar source, Elon Musk. Are the good times back? After spending weeks languishing close to $30,000, Bitcoin has managed to stage a sustained comeback to line up an attack on major resistance. With on-chain indicators flashing bullish, there may be a chance of a breakout, but analysts and traders are far from 100% convinced. Cointelegraph takes a look at five things that could influence how BTC price action unfolds in the coming days. Musk tweet changes the game... again The talk of the town, …

Tesla CEO Elon Musk said his electric-vehicle company will start accepting Bitcoin (BTC) payments once there’s confirmation that miners are utilizing clean energy, offering a glimmer of hope that the FUD surrounding digital assets could soon subside. Musk responded to a Cointelegraph tweet about recent accusations from Sygnia CEO Magda Wierzycka, who called on the United States Securities and Exchange Commission to investigate the billionaire for allegedly manipulating Bitcoin’s price. This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. When there’s confirmation of reasonable (~50%) clean energy usage by miners …

Magda Wierzycka, one of the richest women in South Africa and CEO of financial services company Sygnia, said Tesla CEO Elon Musk would likely have been investigated by authorities regarding recent allegations over his manipulation of crypto prices — if his target had been almost anything other than Bitcoin. In an interview with Bruce Whitfield at the Money Show this week, Wierzycka said Musk’s recent social media activity on the price of Bitcoin (BTC) should have made him the subject of investigation by the U.S. Securities and Exchange Commission, or SEC, if Bitcoin were more of a traditional company. The …