ELON Musk will not sell Tesla Bitcoin holdings – despite banning the cryptocurrency to pay for his products.
Musk released a statement in the form of two emojis – Diamond Hands – posting a pair of hands a diamond on Twitter.
Diamond Hands is a slang term for crypto-holders that resolutely refuse to sell their holdings in spite of an uncertain market.
On Wednesday Bitcoin suffered its worst crash since last year before bouncing back above $40,000, driven by China banning financial institutions from offering crypto related transactions, and warned investors against speculative trading in them.
As such bitcoin fell below $31,000 – less than half the all-time high price that it reached in mid April – before recovering to around $40,000 today.
And the cryptocurrency is still ahead of Tesla, as well as payment giants like Mastercard, PayPal and Visa.
It comes after Bitcoin plunged last week as Elon Musk said Tesla would no longer accept Bitcoin payments to buy cars. But Cardano, Ethereum and dogecoin all remained steady following the billionaire’s announcement.
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